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Salesforce stock rallies after full-year revenue outlook nudged higher, upbeat 2023 guidance initiated

Shares of Salesforce.com Inc. (CRM) rose 1.1% in premarket trading Thursday, after the customer relationship management software company nudged up its fiscal 2022 revenue outlook and provided 2023 guidance that was above expectations. The company, which is hosting its annual investor day on Thursday, said it now expects 2022 revenue of $26.25 billion to $26.35 billion, compared with the guidance range provided last month of $26.2 billion to $26.3 billion. For 2023, the company expects revenue of $31.65 billion to $31.80 billion, above the current FactSet consensus of $31.52 billion. The stock has rallied 16.5% year to date through Wednesday, while the Dow Jones Industrial Average , of which Salesforce is a component, gained 11.9%.

-Tomi Kilgore

 

(END) Dow Jones Newswires

09-23-21 0739ET

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