Posted 2/28/2024, 11:15:15 PM
Salesforce Forecasts Slower Growth Despite Q4 Beat, Expands Buybacks by $10B
- Salesforce expanded its stock buyback program by $10 billion and announced a new dividend
- Salesforce forecasts annual revenue between $37.7 - $38 billion for 2025, below analyst estimates of $38.62 billion
- Salesforce cut about 700 employees, or 1% of its workforce, last month due to warnings of a slow economy
- Salesforce beat revenue estimates for the fourth quarter, benefiting from higher cloud spending
- Salesforce expects full-year adjusted profit between $9.68 - $9.76 per share, compared to estimates of $9.57 per share