Cloud Stocks: Salesforce Defies Market Turbulence
Salesforce (NYSE: CRM) recently announced its third quarter results that continued to surpass market expectations. While its growth rate has slowed down, the market remains positive, and sent the stock soaring 8% to a 52-week high in the after-hours trading session. Salesforce's stock has climbed over 70% this year, significantly outperforming the Nasdaq which grew 36% in the year. Salesforce's Financials Salesforce's revenues for the third quarter grew 11% to $8.72 billion, at par with analyst estimates of $8.72 billion. Adjusted earnings of $2.11 per share were better than th...