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Salesforce shares pop on earnings beat and optimistic forecast



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Salesforce CEO Marc Benioff walks with other attendees as they leave a morning session at the Allen & Company Sun Valley Conference in Sun Valley, Idaho, on July 12, 2023.Kevin Dietsch | Getty Images News | Getty ImagesSalesforce shares jumped 6% in extended trading on Wednesday after the cloud software company announced quarterly results and guidance that surpassed Wall Street’s expectations.Here’s how the company did:Earnings: $2.12 per share, adjusted, vs. $1.90 per share as expected by analysts, according to Refinitiv.Revenue: $8.60 billion, vs. $8.53 billion as expected by analysts, according to Refinitiv.Salesforce’s revenue in the fiscal second quarter increased 11% from a year earlier, according to a statement. Net income rose to $1.27 billion, or $1.28 per share, from $68 million, or 7 cents per share, in the year-ago quarter.An uncertain economy continues to pressure Salesforce’s growth, finance chief Amy Weaver said on a conference call with analysts. The company encountered softness in the U.S. during the quarter, and in several industries like technology, retail and consumer goods, she said.”We are still seeing elongated sales cycles, additional deal approval layers, and deal compression in our subscription and support and professional-services businesses,” Weaver said. Clients ha …

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