- Joseph K
Salesforce Earnings Beat, Raises Year View, Stock Up 4%
Cloud-computing pioneer Salesforce.com (CRM) this afternoon reportedfiscal Q1 revenue and profit that comfortably beat expectations, beat with its quarterly revenue outlook for this year, and also raised its year outlook for revenue and profit above consensus. The report has driven Salesforce stock up $4.32, or 3.4%, to $131.20, in late trading. Chief Executive Marc Benioff pointed to the company’s revenue “run rate” of more than $12 billion, and noted the company’s “Einstein” software had “delivered nearly two billion AI predictions."