Signage on a Saleforce office building in San Francisco, California
David Paul Morris/Bloomberg
Salesforce was rising more than 3% in premarket trading Thursday after the cloud-based enterprise-software provider lifted its full-year revenue forecast.
The tech company has seen sales increase on strong demand for its software as more people have been working from home during the pandemic.
It raised its fiscal 2022 sales guidance to a range between $26.25 billion and $26.35 billion ahead of an investor day Thursday. This is an increase on the previous $26.2 billion to $26.3 billion forecast provided last month.
Salesforce (ticker: CRM) also lifted its predictions for 2023 revenue to a range of between $31.65 billion to $31.80 billion, higher than analyst consensus of $31.52 billion, according to FactSet.
Salesforce posted strong results for its fiscal second quarter last month.
At the time, Bret Taylor, the company’s president and chief operating officer, told Barron’s in an interview that the strong performance “reflects how relevant our products are right now … digital transformation starts and ends with your customers.”
Post pandemic, Salesforce’s is still expected to see sales increase as advances in artificial technology and automation drive demand.
The stock was up 3.2% in premarket trading to $267.35.
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