Salesforce Inc. shares jumped Wednesday morning after the company reported first-quarter earnings and raised its profit forecast.
On Tuesday, Salesforce reported adjusted first-quarter EPS of 98 cents on $7.41 billion in revenue. Both numbers beat consensus analyst estimates of 94 cents and $7.38 billion, respectively. Revenue was up 24 percent from a year ago.
Service Cloud revenue was up 17 percent to $1.76 billion in the quarter. Sales Cloud revenue was up 18 percent to $1.63 billion.
Salesforce also raised its fiscal 2023 adjusted EPS guidance from a previous range of between $4.62 and $4.64 to a new range of between $4.74 and $4.76. Salesforce cut its full-year revenue guidance from a prior range of between $32 billion and $32.1 billion to a new range of between $31.7 billion and $31.8 billion….