Reported 6 months ago
Salesforce shares dropped around 18% after its weakest quarterly revenue growth forecast, leading to worries about competition from AI and high interest rates impacting demand. The company may face a potential loss of over $48 billion in market value, reporting below-expectation quarterly revenue for the first time in years. Salesforce's AI-focused data cloud business played a significant role in deals above $1 million, but the company's forecast suggested a slowdown in software demand, prompting concerns among investors and analysts.
Source: YAHOO