Salesforce outperforms  quarterly revenue estimates

On Tuesday, Salesforce announced that its quarterly revenue and profits are more than the estimates. This is majorly due to the prevalent hybrid work model across the globe that eventually resulted in the increase in demand for its cloud-based software services. The Pandemic increased the business of companies like salesforce as more and more organizations and businesses shifted towards digitizing their operations. The emergence of the omicron variant in the later months of 2021 also boosted the revenue and profit of cloud companies like salesforce. Co-chief executive officer of the company, Bret Taylor said: "Slack continues to exceed our expectations that I think is benefiting not only from the trend towards this new way of working ... It's also benefiting being a part of our Customer 360 portfolio.”  The revenue of the America-based company increased by 24.7% to $6.83 billion in the fourth quarter. Its recent offering Slack's workplace app has also helped the company to achieve this feat. Its competitor Microsoft that offers Azure cloud service also performed really well and registered a growth of 26%. Salesforce expects the revenue of the first quarter to be between $7.37 billion and $7.38 billion. The share of the company climbed by 4% after the announcement.