Salesforce raises full-year revenue outlook on hybrid work boost

Stock Markets24 minutes ago (Sep 23, 2021 09:21AM ET)

(C) Reuters. 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 (NYSE:CRM) fend off competition from legacy players like Oracle (NYSE:ORCL), Microsoft (NASDAQ:MSFT) 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.

Salesforce raises full-year revenue outlook on hybrid work boost

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

More from author

Subscribe

Related posts

Latest posts

China raises $4 billion in U.S. dollar bond deal

Stock Markets12 minutes ago (Oct 19, 2021 08:30PM ET) (C) Reuters. By Scott Murdoch HONG KONG (Reuters) - China has raised $4 billion through a...

U.S. House committee backs contempt charge against Trump aide Bannon

World21 minutes ago (Oct 19, 2021 08:22PM ET) (C) Reuters. FILE PHOTO: Former White House Chief Strategist Steve Bannon exits the Manhattan Federal Court, following...

U.S. House committee backs contempt report on Trump aide Bannon

Sign In/Free Sign Up 0 World24 minutes ago (Oct 19, 2021 08:18PM ET) (C) Reuters. FILE PHOTO: Former White House chief strategist Steve Bannon...

Categories

Want to stay up to date with the latest news?

We would love to hear from you! Please fill in your details and we will stay in touch. It's that simple!