Salesforce's Stock Slips on Disappointing Revenue Forecast

Salesforce's shares dropped 6% in after-hours trading after the company issued a modest revenue forecast for the new fiscal year, expecting single-digit full-year revenue growth. The business software maker reported a 10.8% year-over-year revenue increase in the previous quarter, with earnings per share of $2.29, slightly beating expectations. Salesforce also announced plans to pay a dividend at 40 cents per share and revealed its acquisition of sales commission software startup Spiff. Despite the stock slip, Salesforce shares have risen about 14% this year, outperforming the S&P 500 index.