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Salesforce (CRM) Q3 earnings report 2024 [Video]

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Marketing Platforms and CRM

Salesforce shares rose more than 8% in extended trading on Wednesday after the cloud software vendor reported fiscal third-quarter earnings that topped analysts’ estimates.

Here’s how the company did:

  • Earnings: $2.11 per share, adjusted, versus the $2.06 per share expected by LSEG
  • Revenue: $8.72 billion versus the $8.72 billion expected by LSEG

Revenue increased 11% from $7.84 billion a year ago. Salesforce, which has historically expanded by well over 20% a year, has seen its growth rates slip in recent quarters as businesses have looked to reduce spending due to economic uncertainties and high interest rates.

However, the stock has jumped more than 70% this year, outperforming the Nasdaq, which has climbed 36%. That’s largely because Salesforce has been able to bolster profits by lowering expenses. In January, the company announced that it was cutting 10% of jobs and reducing some office space as part of a restructuring plan.

Salesforce on Wednesday raised its fiscal 2024 forecast for …

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