Reported 4 months ago
Salesforce shares plummeted following disappointing first-quarter earnings, leading to potential losses exceeding $40 billion in value. The company, led by CEO Marc Benioff, is transitioning by investing in AI technologies, cutting costs, raising prices, and implementing shareholder-friendly measures. Despite a 44% increase in earnings to $2.44 per share and revenue growth to $9.13 billion, software bookings grew only 2%, prompting adjusted price targets by analysts like D.A. Davidson and Citigroup due to weaker-than-expected results.
Source: YAHOO