Lower Projections Upset Salesforce’s Investorsĭespite reporting an earnings beat of 13.3% and a revenue surprise of 0.4% in the second quarter of Fiscal 2023 (ended July 31, 2022), Salesforce’s lower projections for Fiscal 2023 have disappointed its investors. Also, a consolidated chart of the two companies, prepared using TipRanks’ Stock Comparison tool, is provided below to help investors understand Wall Street’s take on them. It is worth mentioning that changes in consumers’ spending behavior seem to be a byproduct of the economic slowdown in the United States, which is caused by lower disposable income, an increase in interest rates, supply-chain issues, and costs inflation.Īgainst the backdrop, let’s discuss Salesforce’s and Zoom Video’s latest earnings results and their projections for 2022. ( NASDAQ:ZM), expressed their concerns over decelerating business activities and provided lower projections for Fiscal 2023 (ending January 2023). ( NYSE:CRM) and Zoom Video Communications, Inc. This week, two cloud-clouding companies, Salesforce, Inc. The cloud computing industry, which leveraged healthy demand during the peak pandemic period, is now facing headwinds from the rapidly changing preferences of consumers.
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