The Clap
Salesforce (NYSE: CRM) reported better than expected earnings for Q2 2022 but lowered its forecast for the 2023 fiscal year.
The Deets
Revenues rose by 22% to reach $7.72 billion YoY in Q2 2022, while net income was down to $68 million from $535 million, the company’s investments bringing in significant gains in Q2 2021.
Additional Information
Salesforce acquired Slack in a $28 billion deal last year, and is now increasing the price of Slack’s chatting service for the first time since the company’s establishment.
Why this Matters
Salesforce’s stock went down by more than 6% following the earnings report.
Salesforce grinds out the quarter 😤
