Posted 2/29/2024, 12:00:00 AM
Salesforce Forecasts Steady Growth Despite Cautious Sales Outlook; Announces Dividend and Buybacks to Please Investors
- Salesforce gave lackluster annual sales forecast, but investors were pleased by continued profitability, first-ever dividend, and increased buybacks
- Revenue will increase about 9% to $38 billion in 2025; profit excluding items to be $9.68-$9.76 per share
- Introduced outlook for subscription/support revenue to grow over 10% in 2025 to show bulk of business still expanding quickly
- Announced first-ever quarterly dividend of 40 cents per share; increased share repurchase program by $10 billion
- Data cloud is fastest-growing organic product in company's history, according to CEO Marc Benioff