.salesforce shares have rallied after the company reported revenue and profit that beat expectations.
The software company posted results that allayed Wall Street’s fears that the company is sinking. Salesforce shares have rallied after the company reported revenue and profit that beat expectations.
That aggressive growth push featured a series of big acquisitions over the past few years, including the workplace messaging app Slack, business automation platform Mulesoft and the data analytics software Tableau. But while the tech company is still growing, “the activist investors want to see lower costs — therefore higher efficiency — from the company,” he said.
Salesforce blazed the trail in the market for business software offered as an online service which became a critical segment of cloud computing. The pandemic led to a surge in demand for cloud computing as many businesses and organizations adapted to the sharp pivot to remote work. But it was unclear if the massive job cuts would be enough. With major companies pulling back on tech spending, there were worries that Salesforce would post dismal results that would give activist shareholders more ammunition to challenge Benioff.“With activists swirling and Street frustration at a boiling point, Benioff and Co.
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