(Bloomberg) — Salesforce.com Inc. trimmed its annual revenue and profit forecasts, indicating that the coronavirus-induced recession has weakened demand for the software maker’s cloud applications. Shares declined 4% in extended trading on the news.Sales in fiscal 2021 will be about $20 billion, down from an earlier projection of as much as $21.1 billion, the San Francisco-based company said Thursday in a statement. Analysts, on average, estimated $20.7 billion.The company expects profit, excluding some items, of $2.93 to $2.95 a share, compared with analysts’ projection of $3.14.Chief Executive Officer Marc Benioff, now heading the company solo after co-CEO Keith Block stepped …read more
Source:: Yahoo Finance
