Salesforce raises annual profit view on steady cloud demand

A logo of Salesforce is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France June 16, 2022. REUTERS/Benoit Tessier/File Photo

(Reuters) -Salesforce raised its annual profit forecast and its third-quarter results beat Wall Street targets on Wednesday, benefiting from a strong demand for its cloud and business products in an uncertain economy.

Its shares rose 7% after the bell as it also forecast fourth-quarter revenue and profit above expectations, raising optimism that tech spending is picking up pace in the second half as inflation cools.