Salesforce shares fall despite better-than-expected earnings

📆 1/06/2023 10:00 a. m.
📰 FoxBusiness

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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.

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