Salesforce Crushes Earnings -- Is the Stock Still a Buy?
Salesforce (NYSE: CRM) was founded in 1999. Since its IPO in 2004, the stock has returned over 6,500% for investors. Its stock has been under pressure over the past year, primarily due to its acquisition of Slack Technologies for a whopping $27.7 billion. Many investors feared that this hefty price tag was unmerited. However, Salesforce management has proven itself time and time again with its acquisition history, and investors are starting to understand the power of Slack as it's integrated into the business.
The company announced earnings Wednesday night, Aug. 25, after the closing bell. Salesforce showed impressive performance across the board, and it raised FY22 guidance to a range of $26.2 billion to $26.3 billion. Below are some of the highlights from the press release:
Other business highlights from the earnings presentation include:
Source Fool.com
