UPDATE 2-SAP quarterly results fall short as U.S. market slows
* Q1 underlying operating profit up 5 pct, short of mean forecast
* Revenue rose 5 pct, also shy of consensus forecasts
* Cites LatAm economy woes; slow U.S. start after strong Q4
* Company reiterates full-year 2016 outlook (Adds CEO comments, details, background, bullets, byline)
By Eric Auchard and Harro Ten Wolde
FRANKFURT, April 9 (Reuters) - Europe's largest software company, SAP, warned late on Friday that first-quarter results would be weaker than expected due to slower sales of software licenses to corporate customers, particularly in Brazil and the United States.
Software license revenues fell 13 percent while the company's newer, but lower-margin cloud software business grew 33 percent. Business customers are shifting to cloud-based software delivered over the Internet instead of relying on older software packages they install and run on in-house computers.
"America was a little more lumpy in terms of the signing of contracts," Chief Executive Bill McDermott told reporters on a conference call, noting that U.S. revenue from its classic on-premise software business grew more slowly than expected.
First-quarter operating profit, excluding special items, rose 5 percent to 1.10 billion euros ($1.25 billion). Continuación...