Salesforce, the cloud-based enterprise software company, on Wednesday forecast current-quarter revenue above estimates, helped by continued demand for its products and services.
The company expects revenue of between $8.51 billion and $8.53 billion for the quarter ending July 31, compared with analysts' expectations of $8.49 billion, according to Refinitiv IBES data.
Salesforce also forecast earnings per share of $1.70 to $1.71, above analysts' expectations of $1.68.
The company's forecast comes as businesses continue to invest in cloud-based software. Salesforce's products and services help businesses manage their sales, marketing, customer service, and other operations.
"We are seeing continued strong demand for our products and services," said Marc Benioff, Salesforce's chairman and CEO. "Our customers are investing in the cloud to help them grow their businesses."
Salesforce's forecast is a positive sign for the cloud-based enterprise software industry. The industry is expected to continue to grow in the coming years, as businesses increasingly move their operations to the cloud.
Analysis
Salesforce's forecast of current-quarter revenue above estimates is a positive sign for the company and the cloud-based enterprise software industry. The company's products and services are in high demand, as businesses continue to invest in cloud-based software.
The growth of the cloud-based enterprise software industry is being driven by a number of factors, including the increasing adoption of cloud computing by businesses of all sizes, the growing demand for mobile and on-demand applications, and the need for businesses to improve their efficiency and productivity.
Salesforce is well-positioned to benefit from the growth of the cloud-based enterprise software industry. The company has a strong portfolio of products and services, a large customer base, and a strong brand.
Salesforce's forecast is a positive sign for the company's future. The company is well-positioned to continue to grow in the coming years, as businesses increasingly move their operations to the cloud.l