Hybrid Work Demand Boosts Salesforce Earnings Forecast

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Salesforce beat market expectations for earnings between May and July as the company’s revenue continues to grow thanks to the increasing use of automation and artificial intelligence.

To continue on the path of revenue growth, the software maker announced Wednesday that its recent decision to switch to hybrid work will help it maintain strong demand for its cloud-based software in the third quarter, boosting revenue.

In the second quarter that ended July 31, Salesforce revenue rose 23% to $6.34 billion, beating estimates of $6.24 billion.

For the third quarter of fiscal 2022, Salesforce forecast revenue of between $6.78 billion and $6.79 billion, above estimates of $6.6 billion.

While demand for its cloud-based software continues to grow strongly, Salesforce has fended off competition from legacy companies such as Oracle, Microsoft and German rival SAP through a series of acquisitions, including workplace messaging app Slack.

For more information, read the original story in Reuters.


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