Salesforce Stock Drops 20 Percent After Earnings Fall Short of Estimates

The stock price crash wiped out more than $52 billion from the firm’s valuation in a single day.
Salesforce Stock Drops 20 Percent After Earnings Fall Short of Estimates
Salesforce CEO Marc Benioff gestures during a session of the World Economic Forum (WEF) meeting in Davos, Switzerland, on Jan. 18, 2024. Fabrice Coffrini/AFP via Getty Images
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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.

Naveen Athrappully
Naveen Athrappully
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Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.