Salesforce Inc posted an 11% rise in quarterly revenue, its slowest pace of growth in 13 years, as companies dialed back spending on cloud-based software offerings in an uncertain economy.
has come under pressure this year as businesses undertake belt-tightening measures to weather the impact of rising interest rates and a potential economic slowdown.
Capital expenditure also jumped nearly 36% to $243 million as the company invested in AI-related tools to power its software products. RBC analyst Rishi Jaluria attributed the stock's fall in extended trading to its surge this year and the company's narrow revenue beat relative to its historical performance.in a crowded cloud-computing market.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Million-dollar mystery of 3 new 2010 Tesla Roadsters found in China solvedA trio of 2010 Tesla Roadsters discovered in shipping containers in China, where they had been sitting for 13 years, were apparently ordered by a startup that went bankrupt.
Read more »
Redistricting amendment from 2010 sparks Constitutional standoff with Gov. DeSantisThe lawsuit alleges, in part, that redistricting in 2022 violated the 2010 “Fair Districts” constitutional amendment because it diminishes the voting power of Black residents in North Florida. Gov. Ron DeSantis’ administration and the Legislature argue the U.S. Constitution trumps that part of the state amendment.
Read more »
11-year-old Aderrien Murry speaks out after being shot by police following 911 callAderrien reflected on the shooting in an exclusive interview with ABC News.
Read more »
Fancy new OnePlus 11 edition unveiled, but there is a catchThe OnePlus 11 Marble Odyssey Edition phone comes with a stylish appearance that combines elegance and power.
Read more »
Theranos founder Elizabeth Holmes to begin 11-year sentenceTheranos founder, Elizabeth Holmes, will report to a federal prison in Texas on Tuesday morning.
Read more »