Future Tech

Salesforce forecasts fourth-quarter revenue above expectations

Tan KW
Publish date: Thu, 30 Nov 2023, 11:55 AM
Tan KW
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Future Tech

 Salesforce forecast fourth-quarter revenue above market expectations on Wednesday, benefiting from strong demand for its cloud and business products in an uncertain economy, sending its shares up 4.3% after the bell.

The company said it expects revenue between $9.18 billion to $9.23 billion, the midpoint of which exceeded estimates of $9.21 billion, according to LSEG data.

The upbeat forecast fans further optimism that tech spending has picked up in the second half of the year as inflation cools, aiding demand for a major cloud player like Salesforce.

The company raised its full-year adjusted profit forecast to a range of $8.18 to $8.19 per share from $8.04 to $8.06 per share it had expected previously.

 


  - Reuters

 

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