Why Salesforce Stock Is Moving Higher Thursday
Portfolio Pulse from Adam Eckert
Salesforce Inc (NYSE:CRM) shares are trading higher after the company reported better-than-expected Q2 results and issued strong guidance. Q2 revenue increased 11% YoY to $8.6 billion, beating the consensus estimate of $8.52 billion. The company also reported quarterly earnings of $2.12 per share, beating analyst estimates of $1.90 per share. Several analysts maintained positive ratings and lifted price targets on the stock. Salesforce also announced a collaboration with IBM to accelerate AI adoption.
August 31, 2023 | 12:35 pm
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Salesforce reported better-than-expected Q2 results and strong guidance, leading to a rise in its stock price. The company also announced a collaboration with IBM, which could further boost its performance.
Salesforce's strong Q2 results and guidance exceeded analyst expectations, which is a positive signal for investors and can lead to a rise in the stock price. The company's collaboration with IBM to accelerate AI adoption could also contribute to its future growth, further boosting investor confidence.
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IMPORTANCE 90
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