Yahoo Finance anchors discuss Salesforce earnings, its $10 billion stock buyback program, and some potential catalysts for the company. Read More...
Reuters
UPDATE 3-Salesforce cuts forecast on lower IT spending, forex hit
Salesforce Inc on Wednesday cut its annual revenue and profit forecasts over “measured” spending from clients and a hit from a stronger dollar, sending its shares down 7% in extended trading. Salesforce also announced stock repurchase of up to $10 billion, its first-ever buyback, while warning of challenges in North America and major European markets for some of its products. The company’s tempered expectations mark a significant change in its stance from May, when it had shrugged off any material impact from uncertain macroeconomic environment on its profit.
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