Salesforce Quarterly Sales, Dividend Outshine Weak Outlook
- Software company expands share buyback plan by $10 billion
- Company projects annual operating margin that tops estimates
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Salesforce Inc. gave a lackluster annual sales forecast, but investors were pleased by the company’s continued profitability, a first-ever dividend and an increase in share buybacks.
Revenue will increase about 9% to as much as $38 billion in the year ending January 2025, the San Francisco-based company said Wednesday in a statement. Profit, excluding some items, will be $9.68 a to $9.76 a share. Analysts, on average, estimated earnings of $9.63 a share on revenue of $38.6 billion, according to data compiled by Bloomberg.