Salesforce Raise Production Outlook Due To High Software Demand

Salesforce.com Inc. raised its revenue outlook for fiscal 2022 to a range of $26.25 billion to $26.35 billion.

The company, which makes cloud-based customer relations software, had already reported a strong gain in quarterly sales in its fiscal second quarter and profit that topped analysts’ estimates. At the time, the company said sales in the current fiscal year ending Jan. 31 would be as much as $26 billion.

Salesforce also gave guidance for fiscal 2023 sales of $31.65 billion to $31.80 billion in a statement Thursday ahead of its annual investors day. The shares jumped about 2.4% in premarket trading in New York.

Spending on technology software is picking up as companies restart plans and projects halted by the pandemic, boosting demand for Salesforce’s programs that manage relationships with customers and handle other business tasks.