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DeepNewz, mobile.
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How did Salesforce lose $50BN in market cap in a single day? 🤯 “Salesforce said we have fallen to single digit growth and we’re not coming back. Why does that matter? Because it’s not a growth stock at single digits. @jasonlk thoughts 👇 https://t.co/HwMJAjnzBh
Last week, public software markets suffered significant compression. MongoDB fell 24%; UIPath fell 36% ; Salesforce fell 15% ; Workday was down 11%. Weaker revenue projections tend to cause sell-offs. These large drops aren’t unprecedented. In 2016, valuations fell 57%. Is it… https://t.co/5mpAG26hYE
Salesforce posts first revenue miss since 2006. 🩸 Are you a buyer at 28x earnings? $CRM https://t.co/XZ3tICM7ut
Salesforce experienced a significant drop in share price after reporting its Q2 2024 earnings, with revenue missing for the first time since 2006. The company's gross margin was 73%, and customers with $100K+ ARR increased by 30% to 1,193. Despite weaker revenue projections, the revenue growth remained stable at around 40% year-over-year. The market cap of Salesforce decreased by $50 billion in a single day due to the company's announcement of falling to single-digit growth.