Salesforce’s revenue beats on higher demand for cloud software

FILE PHOTO: the logo of The company it is displayed in the Salesforce Tower in New York City, united states of america, on March 7, 2019. REUTERS/Brendan McDermid/File Photo

(Ap) – Inc., and CRM.N) reported quarterly earnings above Wall Street estimates on Thursday, as more customers signed up for the cloud software.

Total revenue increased 22% to $4 billion in the second quarter, which ended July 31, compared with analysts ‘ estimates of $3.95 billion, according to IBES data, Refinitiv.

However, net income declined to $91 million, or 11 cents a share, up from $299 million, or 39 cents a share, a year earlier.

Reporting by Neha Malara in Bengaluru; Editing by Anil D’silva

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