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Salesforce Reports Higher-Than-Expected Earnings and Revenue
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Salesforce reported better-than-expected earnings and revenue for its third quarter ended October 31, 2022. Adjusted earnings per share came in at $1.40 on revenue of $7.84 billion, beating analyst estimates of $1.22 on revenue of $7.83 billion. The company also announced that co-CEO Bret Taylor is stepping down, effective January 31, 2023. Looking ahead, Salesforce said it expects fourth-quarter earnings to be between $1.35 and $1.37 per share, with revenue for the period slightly below guidance at between $7.932 and $8.032 billion. Shares of Salesforce fell 5.2% in extended trading following the release.
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