© Reuters. A logo of Salesforce is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France June 16, 2022. REUTERS/Benoit Tessier/File Photo
(Reuters) -Salesforce Inc said on Wednesday that Bret Taylor would step down as co-chief executive officer, sending its shares down 5% in extended trading.
The company said Marc Benioff would take the role of chief executive officer.
Separately, Salesforce (NYSE:) also raised its annual profit forecast, betting on resilient demand for its cloud-based software as more businesses transform to a hybrid work model.
A diverse portfolio of products including its Customer 360 platform and the newly acquired workplace messaging app Slack have helped Salesforce attract customers at a time when digital transformation is becoming a priority, even as businesses are bracing for a broader economic downturn.
Revenue for the quarter ended Oct. 31 was $7.84 billion, compared with analysts’ average expectation of $7.82 billion, according to Refinitiv IBES data.
The company now expects annual adjusted profit per share between $4.92 and $4.94, compared with $4.71 to $4.73 forecast earlier.
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