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Salesforce on Wednesday posted mixed fourth-quarter earnings and forecast that revenue next year could fall to the lower end of Wall Street’s expectations.
The software group said that its full-year revenue would come in between $45.8bn and $46.2bn. This compared with analysts’ estimates of $46.1bn, according to S&P Visible Alpha.
In the fiscal fourth quarter ending January 31, Salesforce’s revenue increased 12 per cent to $11.2bn, in line with expectations. Operating profits of $1.9bn in the fourth quarter fell shy of the $2.1bn expected by analysts.
“We’ve rebuilt Salesforce to become the operating system for the agentic Enterprise, bringing humans and agents together on one trusted platform,” said chair and chief executive Marc Benioff.
Salesforce, which produces software to track customer relationships, has faced considerable pressure from investors amid a market rout spurred by the risk posed by AI start-ups such as Anthropic to software companies.
The San Francisco-based company has been dragged down alongside competitors such as Intuit, Workday and ServiceNow, falling 27 per cent so far this year.
This is a developing story
