Salesforce Stock Tanks On Weak Guidance Amid Hopes For Artificial Intelligence Boost

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 Salesforce (CRM) on Wednesday reported first-quarter earnings that topped estimates while revenue missed. July-quarter revenue guidance for Salesforce stock came in well below expectations. Shares tumbled as investors await a boost from artificial intelligence products.

The enterprise software maker released the April-quarter Salesforce earnings report after the market close. Salesforce's sales growth has slowed despite an acquisition spree that included Slack Technologies and Mulesoft.

CRM Stock: Technical Ratings

Salesforce offers access to business software applications based on a subscription model. Its software helps businesses organize and handle sales operations and customer relationships. In addition, the company has expanded into marketing, customer services and e-commerce.

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