(Bloomberg) -- Software giant SAP SE raised its annual revenue outlook and said it would buy back up to a half billion dollars in stock after reporting a better-than-expected jump in sales, lifted by a revamped version of its flagship software.

The German maker of applications that run businesses’ finances, manufacturing and personnel is projecting sales of 23.3 billion euros ($26.8 billion) to 23.7 billion euros this year, based on constant currencies. That’s up about a 100 million euros on both ends of its prior forecast. SAP is about to start a share buyback of up to 500 million euros this year, and it raising its outlook for cloud and software revenue.

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