Salesforce forecasts third-quarter revenue below estimates

:Salesforce forecast third-quarter revenue below Wall Street expectations on Wednesday, hit by weaker spending on its enterprise cloud products in an uncertain economy.
The company expects third-quarter revenue between $9.31 billion and $9.36 billion, compared with the average analyst estimate of $9.41 billion, according to LSEG data.
Salesforce’s forecast comes as the software-as-a-service pioneer faces a challenging macro environment surrounding cloud spending as clients slash tech budgets owing to high interest rates.
Shares of the company rose around 1 per cent in extended trading as it beat expectations for second-quarter revenue.
It reported revenue of $9.33 billion, compared with estimates of $9.23 billion.