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Salesforce falls as forecast falls short of estimates

Byadmin

Aug 25, 2022 ,
Salesforce падает, так как прогноз выручки не соответствует оценкам аналитиков

The company announces a $10 billion buyback program.

The leading software provider, Salesforce, Inc., released a quarterly revenue prediction that was below analysts’ expectations, indicating that some clients may be delaying purchases of commercial software due to an unstable economy.

Salesforce also cuts fiscal year sales forecast

Salesforce data indicates that third-quarter sales will be $7.83 billion, down from analysts’ expectations of $8.05 billion, and that the revenue forecast will drop from $31.8 billion to $31 billion, showing a shift in customer attitude.

Salesforce disclosed a $10 billion share repurchase plan. Anurag Rana, a Bloomberg Intelligence analyst, said that the buyback “may suggest that the stock has been under a lot of pressure over the previous year and a half, which is what caused it.”

The company’s shares decreased 5.5% in extended trading in New York to $180.01 per share. Amid a severe IT downturn that has particularly hurt software vendors, stocks are down 29% this year.

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