Shares of Salesforce (CRM) rose 8% in extended trading on Tuesday after the enterprise software maker reported results for its first quarter fiscal 2023 ended April 30 that surpassed analysts’ expectations and lifted its full-year earnings guidance.
Salesforce stock remained the top gainer on Wednesday morning, as it was up over 14% less than an hour after markets opened.
Salesforce’s revenue rose 24% year-over-year in the quarter that ended April 30, according to a statement from the company. Net income fell 94% to $28 million. The company saw lower gains on investments in the quarter, and sales and marketing expenses mounted.
Salesforce said that revenue from its Service Cloud for handling customer service inquiries generated $1.76 billion in revenue, up almost 17%. Revenue from the core Sales Cloud product for managing business opportunities contributed $1.63 billion, up about 18%, CNBC reported.
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