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Salesforce's third-quarter revenue beats on strong cloud demand

Economic Times

Economic Times · 7m ago

Salesforce's third-quarter revenue beats on strong cloud demand

Salesforce beat expectations with its third-quarter revenue, leading to an 8% increase in its shares. The company benefited from strong spending on its enterprise cloud offerings, as companies continue to streamline workflows and utilize artificial intelligence in data processing. Salesforce's revenue for the quarter reached $9.44 billion, surpassing the estimated $9.35 billion. The company's focus on its Agentforce product, supported by its data cloud, is expected to drive future growth. However, to achieve double-digit growth, analysts suggest increased adoption of Salesforce's services by enterprises will be necessary. Salesforce has also raised its annual revenue forecast for fiscal year 2025.

Related News

Google parent Alphabet beats quarterly revenue estimates

Economic Times

Economic Times · 8m ago

Google parent Alphabet beats quarterly revenue estimates

Alphabet, the parent company of Google, reported better-than-expected third-quarter revenue thanks to strong growth in its digital advertising business and increased demand for its cloud services. Digital ad sales rose to $65.85 billion, while revenue from Google's cloud platform reached $11.35 billion, surpassing analysts' estimates. The company's profit of $2.12 per share also exceeded expectations. Overall, Alphabet experienced a 15% increase in revenue to $88.27 billion during the quarter.

Lam Research beats quarterly revenue estimates on surging AI chip demand

Economic Times

Economic Times · 3m ago

Lam Research beats quarterly revenue estimates on surging AI chip demand

Lam Research exceeded Wall Street expectations for third-quarter revenue, driven by strong demand for advanced AI chips, boosting its shares by 4.5% in extended trading. This demand leads major chip manufacturers, like Taiwan Semiconductor Manufacturing Co., to increase orders, benefiting suppliers like Lam. It posted $4.72 billion in revenue, surpassing analyst estimates. Despite U.S. export controls challenges, Lam's outlook remains strong, expecting fourth-quarter revenue of $5 billion. Its systems revenue reached $3.04 billion for the quarter.

TSMC's third-quarter revenue easily beats market forecast

Economic Times

Economic Times · 9m ago

TSMC's third-quarter revenue easily beats market forecast

- TSMC reported third-quarter revenue of T$759.69 billion ($23.62 billion), surpassing market and company forecasts. - The growth in revenue represents a year-on-year increase of 36.5%. - TSMC's AI demand has played a significant role in its revenue growth. - The company's customers include major tech companies like Apple and Nvidia. - TSMC's stock has seen a 72% increase this year, outperforming the broader market. - TSMC will release its full third-quarter earnings and provide an outlook on October 17th.

Micron Tech beats revenue estimates on AI chip demand; shares fall after run-up

Economic Times

Economic Times · 1y ago

Micron Tech beats revenue estimates on AI chip demand; shares fall after run-up

Micron Technology reported better-than-expected third-quarter revenue due to strong demand for its memory chips. However, its fourth-quarter forecast disappointed investors, causing the company's stock to drop 7.2% after hours. While Micron's forecast was largely in line with expectations, it was not enough to meet the high hopes of investors, especially considering the company's strong performance in the AI market. Micron is a major provider of high-bandwidth memory chips used in advanced AI systems and is benefiting from the increasing demand for semiconductors. Its results are seen as an indicator of chip demand and market trends.

Accenture beats third-quarter revenue estimates

Economic Times

Economic Times · 1m ago

Accenture beats third-quarter revenue estimates

Accenture surpassed Wall Street forecasts for third-quarter revenue, posting $17.7 billion, exceeding the anticipated $17.30 billion. Driving this success was the increased demand for its AI-driven services among enterprise customers.

Cisco beats earnings expectations as AI spurs networking gear demand

Economic Times

Economic Times · 8m ago

Cisco beats earnings expectations as AI spurs networking gear demand

Cisco Systems exceeded expectations in its first-quarter results, driven by increasing demand for its networking gear in the midst of the AI boom. The company predicts higher quarterly revenue and profit than anticipated, thanks to investments in AI technologies that require data centers utilizing Cisco's products. To diversify its business, Cisco aims to reduce reliance on its networking equipment division by focusing on areas such as cybersecurity, cloud systems, and AI-driven products. Despite facing supply chain issues and a downturn in demand, the company completed its acquisition of Splunk, enhancing its software business and cybersecurity capabilities. The company expects second-quarter revenue to surpass estimates, along with a rise in adjusted profit per share. Cisco forecasts annual revenue and adjusted profit within an optimistic range.

Salesforce raises annual results forecast on strong cloud spending

Economic Times

Economic Times · 1m ago

Salesforce raises annual results forecast on strong cloud spending

Salesforce has increased its revenue and profit forecasts for fiscal 2026 due to strong cloud spending and AI monetization. Despite global economic uncertainty, enterprises are investing in AI to enhance digital infrastructure. Salesforce's AI platform, Agentforce, has captured significant deals and is expected to drive substantial future revenue. The company recently acquired Informatica for $8 billion, aiming to boost growth amid slowing organic expansion. Salesforce's revised forecast includes higher revenue and earnings per share projections.

Microsoft basks in AI glory, revenue up 17% to $61.9 billion

Livemint

Livemint · 1y ago

Microsoft basks in AI glory, revenue up 17% to $61.9 billion

Microsoft reported a 17% increase in revenue for the third quarter, reaching $61.9 billion. The company's profits were $2.94 per share, surpassing analyst estimates. The growth was driven by strong demand for its cloud and AI offerings. Microsoft saw a 31% revenue gain in its Azure platform, with 7% of the increase attributed to AI. The company is aggressively expanding its global data center network to meet the demand for AI services. Microsoft also saw growth in its desktop software business and gaming sector.

Micron forecasts revenue above estimates on AI-driven memory chip demand - The Economic Times

Economic Times

Economic Times · 1m ago

Micron forecasts revenue above estimates on AI-driven memory chip demand - The Economic Times

Micron Technology predicts higher fourth-quarter revenue due to robust demand for high-bandwidth memory (HBM) chips, crucial for AI data centers. The company saw a 50% increase in third-quarter HBM chip sales and continues to invest in these products. The demand rise is fueled by cloud companies like Google's investment in AI infrastructure. Micron anticipates its HBM chip market share will align with its broader DRAM share by late 2025, expecting $10.7 billion in fourth-quarter revenue.

Foxconn beats estimates in Q4; Net profit climbs 33% YoY on strong AI demand

Livemint

Livemint · 1y ago

Foxconn beats estimates in Q4; Net profit climbs 33% YoY on strong AI demand

Taiwanese company Foxconn, the largest contract electronics maker in the world, reported a 33% YoY rise in net profit for the fourth quarter of 2023. The company attributed this growth to strong demand for AI servers and high sales during the year-end peak season. Foxconn's net profit rose to T$53.14 billion (approximately $1.69 billion) during this period. The company's success in AI hardware sales helped offset weakness in iPhone and electronics demand. Additionally, sales of cloud and networking products and smart consumer electronics also exceeded expectations.

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