Salesforce stock falls over 5% on earnings and sudden departure of co-CEO Bret Taylor
Summary
Salesforce reported earnings and revenue on Wednesday that beat analyst expectations. CEO and Salesforce co-founder Marc Benioff will the be sole person in charge of the company. Last quarter, Salesforce trimmed its year-end estimates for both revenue and earnings, citing a weaker economic cycle. Salesforce said that its operating cash flow came in at $313 million for the quarter, which was a decrease of 23% year-over-year. The Platform and Other category that includes Slack reported $1.51 billion in sales, an 18% increase year-over-year.
Classifications
industries
Fintech & Banking
applications
Data Management
AskAI Classifications
Labels
SaaS
CRM Software
Enterprise Software
Linked Companies
Salesforce
$1B+