CRM - Salesforce Stock Sinks on Weak Outlook. Time to Buy the Dip?
2024-06-02 03:15:00 ET
Shares of Salesforce (NYSE: CRM) were selling off after the customer-relationship management (CRM) software company issued weaker-than-expected second-quarter guidance.
Let's take a closer look at the company's recent earnings report, why the stock is selling off after maintaining its full-year forecast, and whether or not the sell-off creates a good buying opportunity.
Salesforce saw its first-quarter revenue rise 11% year over year to $9.13 billion, which was at the lower end of its prior guidance. Subscription and support revenue jumped 12%, or 13% in constant currencies, to $8.59 billion.
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Salesforce Stock Sinks on Weak Outlook. Time to Buy the Dip?