News Formal

Salesforce shares fall despite better-than-expected earnings

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 8 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 53%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Salesforce reported profit and revenue that topped Wall Street estimates, while the company forecasts the current quarter revenue will top expectations.

Salesforce reported better-than-expected results last quarter.Shares of SalesforceShares had been on quite a run, rising by more than two-thirds so far this year and rose to their highest in about 16 months in regular trading on Wednesday.Salesforce Chief Financial Officer Amy Weaver said the company faced continued macroeconomic pressures in the United States and that demand from financial services and technology companies slowed in the quarter.

Capital expenditure also jumped nearly 36% to $243 million as the company invested in AI-related tools to power its software products.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street rises as DC moves to avoid defaultWall Street is ticking higher in its first trading after Washington struck a tentative deal to avoid a potentially disastrous default on its debt.
Source: wjxt4 - 🏆 246. / 63 Read more »