28 days ago • Posted by Ajmir Omid

Cloud giants rise after upbeat CRM results $CRM $NDX $MSFT $GOOGL $AMZN #trading #software

The strong sales growth indicated by Salesforce's results is reassuring given the software sector's economic troubles. The growth in new business signings was broad-based, showing that enterprises are still allocating more capital toward cloud products. The strong operating performance (up 24% in constant dollars) remained steady, a leading indicator of future growth. The revised forecast for margin improvement was also encouraging. Margins have been a problem area, and this new guidance should alleviate some worries. This morning, CRM is up about 7% and cloud giants, AMZN, MSFT, GOOGL, and ADOBE are leading the Nasdaq.

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