Salesforce Boosts Revenue on New Products, Global Expansion
- Annual sales forecast raised to as much as $12.7 billion
- Profit tops estimates for eighth consecutive quarter
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Salesforce.com Inc. gave a revenue forecast that topped analysts’ estimates, buoyed by growth in its cloud-based business products.
The San Francisco-based company raised its 2019 fiscal year sales guidance to as much as $12.7 billion. Analysts on average estimated $12.5 billion, according to data compiled by Bloomberg. Still, the rising costs of Salesforce’s global expansion tempered the reaction of investors. Shares rose about 1.5 percent in extended trading.