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SAP says new cloud package a hit, confirms outlook

BERLIN, April 22 (Reuters) - Software group SAP said on Thursday its new all-in cloud transformation package was proving to be a hit with its customers, as it confirmed its first-quarter results and recently raised guidance.

“We are seeing very strong order entry growth across our applications portfolio,” said CEO Christian Klein. Its new business transformation product, Rise with SAP, was “rapidly becoming a massive accelerator”.

SAP confirmed its guidance after earlier this month nudging up expectations for cloud and software revenue to 23.4-23.8 billion euros ($28.15-$28.64 billion) this year, representing a rise of 1%-2% year on year. ($1 = 0.8311 euros) (Reporting by Douglas Busvine; Editing by Maria Sheahan)

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