Salesforce Growth, Strong Guidance Lift Internet ETFs

Salesforce Growth, Strong Guidance Lift Internet ETFs
May 28, 2021
Salesforce.com Inc. (NYSE: CRM) jumped Friday, lifting internet-related exchange traded funds, after the cloud-based software company topped expectations and raised its outlook.
On Friday, the
Meanwhile, Salesforce shares jumped 5.9%. CRM makes up 8.7% of IGV, 4.5% of FDN, and 4.2% of PNQI.
Salesforce revealed fiscal first quarter net income of $469 million, or 50 cents a share, compared with $99 million, or 11 cents a share in the same period last year, MarketWatch reports. Revenue also rose to $5.96 billion from $4.87 billion year-over-year.
“We had the best first quarter in our company’s history,” said Marc Benioff, Salesforce chairman and chief executive, in a statement. “We believe our Customer 360 platform is proving to be the most relevant technology for companies accelerating out of the pandemic.”

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