Specifically, the article mentions Salesforce's Q3 revenue of $8.72 billion, which met analysts' expectations and represented an 11% gain. Despite slower growth, Salesforce's stock is up due to beating profit expectations and increasing its profitability forecast. The article suggests that Salesforce's strategy of using excess capital to buy back its stock is appealing to investors.
Key takeaways:
- Despite the tough environment for driving revenue, cybersecurity companies' quarterly results have raised questions about why there isn't more venture capital investment in security startups.
- New quarterly results from a variety of tech companies, including Salesforce, Zuora, Okta, Nutanix, and Snowflake, suggest that the tech sector is performing better than expected.
- Salesforce's Q3 revenue was in line with expectations at $8.72 billion, a 11% gain, and the company's stock is up more than 9% due to beating profit expectations and boosting its profitability forecast for the full fiscal year.
- The positive performance of these tech companies has driven up share prices for some startup comparables and improved the general sentiment towards tech valuations.