Salesforce.com Inc forecast current-quarter profit below Wall Street estimates on Tuesday as it faces stiff competition from rivals including Microsoft Corp , sending its shares down 6% in extended trading.
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TechnologyMicrosoft sales grow on cloud strength, shares dip on heightened valuation
ReutersStephen NellisAkanksha Rana
3 minutes read
A Microsoft logo is seen on an office building in New York City, U.S. on July 28, 2015. REUTERS/Mike Segar
Microsoft Corp (MSFT.O) on Tuesday met analysts quarterly sales expectations and beat profit estimates, but its shares fell slightly as investors hoped for an even stronger performance after a year-long rally to a massive market valuation.
The Redmond, Washington company has become one of the world s most valuable companies, worth close to $2 trillion after its stock jumped 50% over the past year, by entering the booming market for cloud computing.