Salesforce's Strong Earnings and Margins Boost Stock Performance
Salesforce reported better-than-expected earnings and revenue for the July quarter, driven by cost-cutting measures that improved margins. The company's adjusted earnings per share jumped 78% to $2.12, while revenue increased 11% to $8.6 billion. Operating margins exceeded estimates at 31.6%. Salesforce's stock surged 5.7% in after-hours trading. Additionally, the company's current remaining performance obligations (CRPO) bookings rose 12% to $24.1 billion, beating expectations. For the next quarter, Salesforce projected a profit of $2.05 per share and revenue of $8.71 billion, both above estimates.