Salesforce Plummets 16% Pre-Market Amid First Single-Digit Growth Projections In Two Decades
Portfolio Pulse from Pooja Rajkumari
Salesforce Inc. (NYSE:CRM) experienced a significant pre-market drop of 16% following its announcement of a slowdown in sales growth for the current quarter. The company's first-quarter revenue missed estimates, and its projected revenue growth for the current quarter is the first single-digit increase in nearly two decades.
May 30, 2024 | 9:50 am
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Salesforce's stock dropped 16% in pre-market trading after the company announced a slowdown in sales growth and missed revenue estimates for the first quarter. This marks the first instance of single-digit sales growth in nearly two decades.
The significant pre-market drop of 16% is a direct result of Salesforce missing its revenue estimates and projecting single-digit growth for the first time in nearly two decades. This news is highly relevant and important for investors as it indicates potential challenges in the company's growth trajectory.
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