Salesforce Sales Jump 24%, Easing Concerns About Business Demand

Shares of the business-software provider rise even as it lowers its sales outlook for the year

Big tech firms are investing in data centers as they compete for the $214 billion cloud computing market. WSJ explains what cloud computing is, why big tech is betting big on future contracts.

Salesforce posted a better-than-expected 24% increase in fiscal first-quarter revenue, easing concerns about demand for its business software.

Shares of Salesforce, which have fallen this year along with a broader selloff in tech stocks, rose more than 7% in after-hours trading following the company’s results.

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