Salesforce shares jump on better-than-expected earnings report
Publishing timestamp: 2023-11-29 17:59:22
Summary
Salesforce's stock has jumped more than 70% this year, outperforming the Nasdaq. The company reported fiscal third-quarter earnings that exceeded analysts' estimates, leading to an 8% increase in stock price in extended trading. Salesforce's growth rate has slipped in recent quarters due to businesses cutting costs, but the company has been able to bolster profits by reducing expenses. Salesforce raised its fiscal 2024 forecast for operating cash flow growth and expects a 10% increase in revenue for the fourth quarter. The company's CEO, Marc Benioff, expressed satisfaction with the strong quarter and profitable growth plan.
Sentiment: POSITIVE
Tickers: CRM,
Keywords: technology, business news, breaking news: earnings, business, earnings, social media, breaking news: technology, salesforce inc,
Source: https://www.cnbc.com/2023/11/29/salesforce-crm-q3-earnings-report-2024.html