(Reuters) – Salesforce forecast fourth-quarter revenue above market expectations on Wednesday, benefiting from strong demand for its cloud and business products in an uncertain economy, sending its shares up 4.3% after the bell.
The company said it expects revenue between $9.18 billion to $9.23 billion, the midpoint of which exceeded estimates of $9.21 billion, according to LSEG data.
The upbeat forecast fans further optimism that tech spending has picked up in the second half of the year as inflation cools, aiding demand for a major cloud player like Salesforce.
The company raised its full-year adjusted profit forecast to a range of $8.18 to $8.19 per share from $8.04 to $8.06 per share it had expected previously.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Arun Koyyur)
