CRM - Salesforce Plummets 16% Pre-Market Amid First Single-Digit Growth Projections In Two Decades | Benzinga
Shares of Salesforce Inc. (NYSE:CRM) took a significant hit, dropping as much as 16% in premarket trading following the company’s announcement of a slowdown in sales growth for the current quarter.
What Happened: At the time of writing, Salesforce stock was trading 16.1% lower in the Thursday pre-market at $228, according to Benzinga Pro. This comes after the stock closed at $271.62 the previous day. However, it dropped by up to 17% in after-hours trading on Wednesday following the release of its first-quarter earnings report.
The cloud software giant’s reported revenue in the first quarter was $9.13 billion, missing the consensus estimate of $9.147 billion. For the current quarter, Salesforce’s revenue ...