8/23/2019, 3:52 PM (Source: TeleTrader)
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Salesforce shares surge 5% on upbeat earnings

Shares of Inc. soared over 5% on Friday after the cloud-based software company reported better-than-expected results for the second quarter of fiscal 2020 and improved its guidance for the full year.

After markets closed on Thursday, the firm said its revenue in the quarter to June surged 22% to $4 billion and added its earnings per share for the period stood at $0.11, as both figures topped market estimates. Furthermore, the company raised its revenue guidance, noting it now expects to achieve $16.9 billion in fiscal 2020.

Salesforce rallied 5.14% to $155.78 at 9:36 am ET.

Breaking the News / NP