Salesforce investor sentiment dampened after the company’s recent earnings report failed to meet expectations, with the stock price cratering by almost 20 percent.
The company reported $9.13 billion in revenues for the first quarter of fiscal year 2025 ended April 30, 2024, which was lower than market forecasts. This was the first time since 2006 that Salesforce’s quarterly revenue came in below estimates. The firm’s second-quarter revenue forecast of $9.20—9.25 billion failed to meet expectations as well.
