Salesforce stock slumps on disappointing guidance
Marc Benioff, CEO of Salesforce, participates in the 55th annual meeting of the World Economic Forum in Davos, Switzerland on 23 January 2025.
Halil Sagirkaya | Anatolia | Getty Images
A bad year got worse Salesforce.
Following a disappointing income in a three -month earnings report on Wednesday, Salesforce’s shares decreased by 8%and decreased to 2025 to 28%. This is the worst performance of the big lid technology.
Income increased by 10% in the second quarter of the financial and 10% compared to the previous year, and for the first time since the beginning of 2024, it broke double -digit growth. The average analyst estimate of 10.24 billion dollars of sales has exceeded expectations of $ 10.14 billion and earning per share.
However, for the third quarter of financially, Salesforce said that according to LSEG, analysts would be between $ 10.24 billion $ 10.29 billion.
Salesforce has not been abolished by artificial intelligence investments and developments in its software as a service or saas, but by the company, most of the technology peers of the AI explosion – especially those who focus on infrastructure.
In Wall Street, AI has a concern that most of the software industry will eat.
“Angst about the future of the investor community Saas, here and now, is not enough to reshape the narrative.” Analysts have a degree of purchasing on the stock.
Robin Washington, the head of the company and the business and finance officer of the company, is dealing with difficulties selling marketing and trade products in a conference meeting with analysts.
Inside Earning versionSalesforce, customer service questions can automate the processing of more than 12,500 agency agreements, he said. This includes 6,000 paid agreements. The company said that more than 40% of reservations for the agent and data cloud come from existing customers.
CEO Marc continued his optimistic tone, underestimated concerns about the AI threat to software, and told analysts as “we see one of the biggest transformations in the field”.
“Hearing some of these nonsense on social media or elsewhere, and people say the crazy things, but no customer is based on the reality.” He said.
Salesforce maintained the full -year income view, but now it sees higher earnings. The company generates revenue from $ 41.1 billion to $ 41.3 billion between $ 11.3 and $ 11.37 per share.
WRISTWATCH: Cramer Interview Salesforce CEO Marc Benioff
