{"id":55219,"date":"2023-08-31T06:37:59","date_gmt":"2023-08-31T10:37:59","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/wall-street-breakfast-podcast-salesforce-rallies\/"},"modified":"2023-08-31T06:38:03","modified_gmt":"2023-08-31T10:38:03","slug":"wall-street-breakfast-podcast-salesforce-rallies","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55219","title":{"rendered":"Wall Street Breakfast Podcast: Salesforce Rallies"},"content":{"rendered":"<div data-test-id=\"content-container\">\n<p><figure class=\"getty-figure\" data-type=\"getty-image\"><picture>  <\/picture><figcaption> <\/figcaption><\/figure>\n<\/p>\n<p>Listen below or on the go on Apple Podcasts and Spotify<\/p>\n<div class=\"pcast hidden-print\">\n<div class=\"pcast__section-1\">\n    <img decoding=\"async\" alt=\"\" class=\"pcast__top-img pcast__marketing\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/podcast_series_header.png\">\n  <\/div>\n<p><iframe loading=\"lazy\" src=\"https:\/\/widget.spreaker.com\/player?episode_id=56646849&amp;theme=light&amp;playlist=false&amp;playlist-continuous=false&amp;chapters-image=true&amp;episode_image_position=right&amp;hide-logo=true&amp;hide-likes=true&amp;hide-comments=true&amp;hide-sharing=false&amp;hide-download=true&amp;color=ff6900\" width=\"100%\" height=\"200px\" frameborder=\"0\" sap-id=\"4\"><\/iframe><\/p>\n<\/div>\n<p>Salesforce (CRM) jumps as Q2 results top expectations, raises guidance. (00:31) CrowdStrike (CRWD) CrowdStrike slips even as Q2 results surpass estimates, raises guidance even as Q2 results surpass estimates, raises guidance. (01:28) Baidu (BIDU) among first companies to get China nod for AI models -report. (02:33)  <\/p>\n<p>This is an abridged transcript of the podcast.<\/p>\n<p>Salesforce (NYSE:CRM) is up more than 5% premarket after reporting second-quarter results that topped expectations and raising its guidance.<\/p>\n<p>For the period ending July 31, Salesforce earned an adjusted $2.12 per share on $8.6B in revenue. Included in that $8.6B was $1.24B from marketing and commerce, $2.05B from services and $1.64B from platform and other revenues.<\/p>\n<p>A consensus of analysts had expected Salesforce (CRM) to earn $1.88 per share on $8.53B in revenue.<\/p>\n<p>Salesforce (CRM) also raised its fiscal 2024 guidance, as it now expects sales to be between $34.7B and $34.8B, up roughly 11% year-over-year.<\/p>\n<p>Looking to the third-quarter, Salesforce (CRM) expects sales to rise roughly 11% year-over-year to be between $8.7B and $8.72B.<\/p>\n<p>CrowdStrike Holdings (NASDAQ:CRWD) is up 1.8% premarket as the cyber security company reported second-quarter results and guidance that surpassed Wall Street&#8217;s expectations.<\/p>\n<p>For the period ending July 31, CrowdStrike earned 74 cents per share, excluding one-time items, as revenue rose 36.7% year-over-year to $731.6M.<\/p>\n<p>A consensus of analysts had expected CrowdStrike to earn 56 cents per share, excluding one-time items, on $724.39M in revenue.<\/p>\n<p>CrowdStrike (CRWD) ended the period with 37% growth in annual recurring revenue to $2.93B.<\/p>\n<p>Looking to the third-quarter, CrowdStrike (CRWD) expects to earn 74 cents per share on an adjusted basis, with revenue between $775.4M and $778M. Analysts were expecting the company to earn 60 cents per share, excluding one-time items, on $774.14M in revenue.<\/p>\n<p>The Cyberspace Administration of China is expected to approve the first lot of generative artificial intelligence, or AI, services for public launch as soon as this week,<\/p>\n<p>According to Bloomberg News citing people with knowledge of the matter, Chinese internet search giant Baidu (NASDAQ:BIDU) is expected to be among the first to win approval from the country&#8217;s internet watchdog.<\/p>\n<p>This would thereby open the space for domestic players to compete with large language models, from the likes of Microsoft (MSFT)-backed OpenAI, and others.<\/p>\n<p>It is not clear which companies other than Baidu are among the first to get a nod to be providers of AI models, the report added.<\/p>\n<p>Other headlines to look out for on Seeking Alpha:<\/p>\n<p>Sam Bankman-Fried lawyers push for fraud trial delay<\/p>\n<p>Toyota restarts Japan assembly lines after production system malfunction<\/p>\n<p>Tesla under DOJ investigation for building Musk a glass castle<\/p>\n<p>Cannabis stocks rally amid reports DEA may reclassify drug as less risky<\/p>\n<p>U.S. stocks on Wednesday ended largely higher.<\/p>\n<p>The Nasdaq (COMP.IND) rose 0.54%. The S&amp;P (SP500) gained 0.38%, while the Dow (DJI) added 0.11%.<\/p>\n<p>Nine of the 11 S&amp;P sectors ended trading in the green, led by Tech and Energy. Utilities and Health Care were the two losers.<\/p>\n<p>Treasury yields were little changed. The 10-year yield (US10Y) was flat at 4.12%, while the 2-year yield (US2Y) was also flat at 4.89%.<\/p>\n<p>Now let\u2019s take a look at the markets as of 6 am. Ahead of the opening bell today, Dow, S&amp;P and Nasdaq futures are mixed. The Dow is up 0.3%, the S&amp;P 500 is up 0.1% and the Nasdaq is down 0.1%. Crude oil is up 0.3% at more than $81 a barrel. Bitcoin is down 0.9%.<\/p>\n<p>In the world markets, the FTSE 100 is up 0.05% and the DAX is up 0.6%.<\/p>\n<p>The biggest stock movers for the day premarket: UBS (NYSE:UBS) is up more than 4% after the company reported a record Q2 profit of $29B as a result of its takeover of Credit Suisse and stated that it will completely integrate its former rival&#8217;s domestic operations by next year. The bank also stated intentions to reduce 3,000 positions in Switzerland over the next few years in order to save more than $10B by 2026.<\/p>\n<p>Five Below (NASDAQ:FIVE) fell 6% after the company published mixed Q2 results and an unfavorable outlook.<\/p>\n<p>On today\u2019s economic calendar, at 8:30am the core PCE price index and at 4:30 pm the fed balance sheet.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/seekingalpha.com\/article\/4632245-wall-street-breakfast-podcast-salesforce-rallies-on-earnings-beat?source=feed_all_articles\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Listen below or on the go on Apple Podcasts and Spotify Salesforce (CRM) jumps as Q2 results top expectations, raises guidance. (00:31) CrowdStrike (CRWD) CrowdStrike slips even as Q2 results surpass estimates, raises guidance even as Q2 results surpass estimates, raises guidance. (01:28) Baidu (BIDU) among first companies to get China nod for AI models [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-55219","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wall Street Breakfast Podcast: Salesforce Rallies | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Listen below or on the go on Apple Podcasts and Spotify Salesforce (CRM) jumps as Q2 results top expectations, raises guidance. 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