Salesforce Reports A Decent Quarter With A Big AI Promise
- Joseph K
- Jun 2, 2023
- 1 min read
Salesforce Inc (NYSE: CRM) not only topped estimates across the board but also raised full year earnings guidance. However, stock dropped 7% upon the report owed to the fact that capital expenditures were higher than expected.Its shares are under pressure as customers are backing away from consulting deals with the software giant experiencing its slowest pace of growth in 13 years. Salesforce is another tech powerhouse that integrated AI tools into its business, but it is behind its rivals Microsoft Corporation (NASDAQ: MSFT) and Google.
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