July 19, 2018 / 5:09 AM / 5 months ago

SAP raises outlook as cloud growth "unleashed"

FRANKFURT, July 19 (Reuters) - Germany’s SAP announced forecast-beating second quarter results on Thursday and raised its outlook for the full year as growth in its cloud business accelerated.

The business software firm, Europe’s biggest technology company by market capitalisation, also raised its mid-term forecast for revenues from its cloud operations after announcing a push into the sales software market.

“SAP is presenting a clear strategy, customers are already validating it in Q2 and we are increasing guidance as a signal that a new wave of growth has been unleashed,” CEO Bill McDermott said. ($1 = 0.8585 euros) (Reporting by Douglas Busvine Editing by Caroline Copley)

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