Salesforce Raises Profit Forecast on Resilient Demand for Business Software
- Revenue gains 24% in quarter to $7.41 billion fueled by Slack
- Future revenue under contract suggests strong annual growth
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Salesforce Inc. rose the most in almost two years on Wednesday after the company raised its annual profit forecast, signaling that demand for business software is holding up despite a broader downturn for major tech firms.
Fiscal-year earnings, excluding some items, will be $4.74 to $4.76 a share, an increase of 12 cents a share from the company’s previous forecast. Revenue will be as much as $31.8 billion, San Francisco-based Salesforce said Tuesday in a statement. Analysts, on average, estimated annual profit of $4.68 a share, according to data compiled by Bloomberg.