Salesforce shares tumble despite strong earnings. Here’s what the pros have to say

Market Movers rounded up the best reactions from investors and analysts on Salesforce . The experts, including Jim Cramer , talked about the software company after it reported strong earnings for the first quarter.

Both revenue and earnings surpassed expectations but cost concerns and dwindling demand for consulting deals caused concern for investors. Although the company raised its earnings forecast for 2024, the stock fell in after-hours trading Wednesday. Ultimately, shares closed Thursday's session 4.7% lower. Salesforce shares had been up 67% in 2023, outperforming the S & P 500. The stock is currently held in Cramer's Charitable Trust portfolio.

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Salesforce predicts record earnings, but the stock is still fallingSalesforce predicted record earnings in the second quarter and increased guidance for record annual profit Wednesday, but shares still declined more than 4%.
Fuente: MarketWatch - 🏆 3. / 97 Leer más »