STOCKHOLM—German business software group SAP raised its full-year outlook for a third time on the back of a strong showing in the third quarter as more customers shift their IT operations to the cloud. SAP now expects cloud revenue to grow by 16 percent-19 percent in the year as a whole, helping its overall cloud and software revenue to gain by 2 percent-4 percent, it said in a statement late on Tuesday. Operating profit is expected to be flat to down 2 percent for the year, an improvement from its earlier forecast of unchanged to down 4 percent. SAP, which is moving to subscription-based cloud services from software licenses with up-front fees, launched Rise with SAP, an all-in-one digital transformation package in January. “We see record adoption of our applications and our platform,” Chief Executive Officer Christian Klein said in a statement. “This has resulted in strong acceleration of our …