Salesforce Lifts FY22 Outlook, Appoints Bret Taylor As Co-CEO; Stock Down 6%

(RTTNews) - Cloud-based enterprise software marker Salesforce.com Inc (CRM), Tuesday lifted its outlook for the full year 2022. The company also announced the appointment of Bret Taylor as Co-CEO of the company. Shares were down 6% in the after-hours trading.

Looking forward, the company now expects full-year 2022 adjusted earnings of $4.68 to $4.69 per share and revenue of $26.39 billion to $26.40 billion.

Previously, the company expected adjusted earnings of $4.36 to $4.38 per share and revenue of $26.25 billion to $26.35 billion.

Analysts currently expect earnings of $4.42 per share on revenues of $26.33 billion for the year.

Separately, Salesforce announced that Bret Taylor has been promoted to Vice Chair of the Board and Co-CEO of Salesforce, effective immediately.

Taylor has served as Salesforce's President and Chief Operating Officer since 2019, and previously served as the company's President and Chief Product Officer.

Salesforce also announced the appointments of Laura Alber, President and Chief Executive Officer of Williams-Sonoma, Inc. and Oscar Munoz, former chairman and CEO, United Airlines, to the Salesforce Board of Directors. Alber's appointment is effective immediately and Munoz's is effective January 1, 2022.

In after hours market, CRM slipped $16.46 or 5.78%. The stock had closed Tuesday's trading at $284.96, down $11.78 or 3.97%.