Salesforce (CRM) shares are surging after the software company beat analyst estimates for earnings and offered a better-than-expected forecast, and said it plans to step up 澳洲幸运5官方开奖结果体彩网:stock buybacks amid pressure from 澳洲幸运5官方开奖结果体彩网:activist investors.

Salesforce revenue jumped 14% to $8.4 billion, beating expectations of 9.2% growth. Profits came in at $1.68 per share, much higher than estimates of $1.36 per share. In January, CEO Marc Benioff said it was c🃏utting 10% of its workforce 🃏or about 7,000 employees.

The software company said it expects 2024 fiscal year earnings of up to $𒊎7.14 per share and revenue of $34.7 billion. Analysts had been anticipating earnings of $5.84 per share and revenue of $34 billion.

The company also reported that its 澳洲幸运5官方开奖结果体彩网:operating margin will be about 27% in fiscal 2024 through January. That blew away analyst estimates for margins of 22.4% after those steep🅰 job cuts. Salesforce also increased its stock buyback program to $20 billion.

At least five activist investors, including Ellio༺tt Capital Management and Starboard Value, have disclosed stakes in Salesforce in recent months. The new outlook from Salesforce management suggests that profitability is now a toꦗp priority after years of focusing on growth. 

Salesforce shareღs are up 42% year-to-date and down 10% over th🐷e past year.