Salesforce shares jump 16% on better-than-expected forecast
Publishing timestamp: 2023-03-01 20:51:46
Summary
Salesforce beat Wall Street expectations on profit and revenue, and issued a better-than-expected forecast. The company also announced an expansion of its share buyback program to $20 billion and its shares soared 16% in extended trading. Salesforce reported a loss of $98 million in the quarter, but its adjusted operating margin was the highest in company history. The company is under pressure from activist investors and has laid out an operating margin goal of 25% for fiscal 2026. Salesforce shares have risen 26% so far this year.
Sentiment: POSITIVE
Tickers: CRM,
Keywords: enterprise, business news, breaking news: earnings, business, technology, salesforce inc, breaking news: technology, earnings,
Source: https://www.cnbc.com/2023/03/01/salesforce-crm-earnings-q4-2023.html