Salem Radio Network News Wednesday, October 4, 2023


Salesforce forecasts current-quarter revenue above estimates

(Reuters) – Business software maker Salesforce Inc forecast second-quarter revenue above market estimates on Wednesday, as demand for its cloud-based offerings stays strong in the face of a turbulent economy.

The company expects revenue of between $8.51 billion and $8.53 billion for the quarter, compared with analysts’ estimates of $8.49 billion, according to Refinitiv IBES data.

Revenue was $8.25 billion for the quarter ended April 30, compared with the expectations of $8.18 billion.

Shares of the San Francisco, California-based company fell nearly 5% in trading after the bell, after rising as much as 3% in regular trading.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Anil D’Silva)


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