Business software maker Salesforce.com Inc beat Wall Street estimates for quarterly revenue on Wednesday, as the pandemic-led shift to hybrid work fueled demand for its cloud-based software.
Shares of the company rose 2% to $267 in extended trading.
Over the past year, Salesforce’s revenue has gone from strength to strength as more companies adopted its software, and the rise of automation and artificial intelligence will likely sustain that demand even as vaccine rollouts gather force.
Revenue in the second quarter rose 23% to $6.34 billion. Analysts on average had expected $6.24 billion, according to IBES data from Refinitiv.
Net income in the quarter ended July 31 was $535 million, or 56 cents per share, compared with $2.63 billion, or $2.85 per share, a year earlier.
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