June 24, 2024
Salesforce predicts record earnings, but the stock is still falling

Salesforce predicts record earnings, but the stock is still falling

Salesforce Inc. executives predicted record adjusted earnings in the second quarter and increased their guidance for record profit for the full year Wednesday, but shares still declined about 6% in after-hours trading.

Salesforce CRMhas easily been the biggest gainer among Dow Jones Industrial Average DJIAcomponents this year, increasing more than 65% amid a wave of activist-investor activity and Chief Executive Marc Benioff’s pivot from focusing on revenue growth to expanding profit margins with layoffs and other cost cuts….

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