Joseph K
Salesforce’s third-quarter revenue beats on strong cloud demand
Salesforce (CRM.N) beat Wall Street estimates for third-quarter revenue on December 3 and raised the lower end of its annual revenue forecast, helped by robust spending on its enterprise cloud portfolio, sending its shares up 8 per cent in extended trading.
Client spending on Salesforce’s software products and data cloud has remained healthy as companies seek to streamline and enhance their corporate workflows and process large quantities of data while integrating artificial intelligence. The company’s revenue for the third quarter rose 8 per cent to $9.44 billion, beating the average analyst estimate of $9.35 billion, according to data compiled by LSEG.
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