News Formal

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

  • 📰 CNBC
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Pros on CNBC discussed Salesforce after the company reported its first-quarter earnings.

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.

 

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:

 /  🏆 12. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

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

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%.
Source: MarketWatch - 🏆 3. / 97 Read more »