Salesforce Stock Drops as CEO Defends 'Appropriately Conservative' Outlook

Salesforce (CRM) shares are sinking 8% in early trading Thursday, a day after CEO Marc Benioff called the customer-relationship software firm's soft current-quarter outlook "appropriately conservative."

After the bell Wednesday, Salesforce reported second-quarter adjusted earnings per share (EPS) of $2.91 on revenue that increased 10% year-over-year to $10.24 billion. Analysts polled by Visible Alpha were looking for $2.78 and $10.14 billion, respectively.

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