Salesforce raises full-year revenue outlook on hybrid work boost


FILE PHOTO: The company logo for Salesforce.com is displayed on the Salesforce Tower in New York City, U.S., March 7, 2019. REUTERS/Brendan McDermid/File Photo GLOBAL BUSINESS WEEK AHEAD/File Photo

(Reuters) -Salesforce.com Inc on Thursday raised its full-year revenue forecast, as the pandemic-led shift to hybrid work fueled demand for its cloud-based software.

Shares of the company were up 2.4% at $265.4 in premarket trading.

The business software maker's revenue has gone from strength to strength over the past year, with the rise of automation and artificial intelligence likely to keep that momentum going.

A slew of deals, including the purchase of workplace messaging app Slack, has also helped Salesforce fend off competition from legacy players like Oracle, Microsoft and German competitor SAP.

The company now expects fiscal full-year 2022 sales between $26.25 billion and $26.35 billion, up from its previous forecast of $26.2 billion to $26.3 billion.

Salesforce also expects fiscal year 2023 revenue of $31.65 billion to $31.80 billion. Analysts were expecting revenue of $31.47 billion, according to IBES data from Refinitiv.

(Reporting by Akanksha Rana in Bengaluru; Editing by Shailesh Kuber)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

   

Next In Tech News

Facebook's oversight board demands more transparency
Velodyne Lidar founder plans to nominate directors next year -letter
Meta4 launches NFT fund with Andreessen Horowitz backing
Facebook signs copyright agreement with some French publishers
UK should legislate to prevent scam ads online - FCA, lawmakers
AT&T adds wireless subscribers in 5G push, new movies boost HBO Max
Tech stampede as investors hunt Latin American unicorns
Rogers third-quarter results might be eclipsed by boardroom spat
Tesla's German plant hits snag as public consultation repeated
Vodafone adds 7,000 software engineers to target digital services

Others Also Read


Vouchers