Why Salesforce.com Stock Is Diving Today

Salesforce.com (NYSE: CRM), at times one of the more popular tech stocks on the market, wasn't too popular on Wednesday. Investors were selling it off following the release of the company's latest set of quarterly results after market hours Tuesday; in midafternoon trading, the stock was down by 9%.

Salesforce actually had quite a successful third quarter of fiscal 2022 by numerous measures. Its revenue landed at $6.86 billion, which was 27% higher on a year-over-year basis and beat the consensus analyst estimate of $6.79 billion. And although non-GAAP (adjusted) net income fell by 22% to $1.27 billion, at $1.27 per share it trounced the collective prognosticator forecast of $0.92.

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Source Fool.com