Salesforce Revises FY23 Profit Outlook, Co-CEO Bret Taylor To Step Down

(RTTNews) - While reporting its results for the third quarter on Wednesday, Salesforce.com Inc. (CRM) revised its outlook for the full year 2023. Separately, the company also announced that Bret Taylor will step down as the company's Vice Chair and Co-CEO.

Looking forward, the company now expects adjusted earnings of $4.92 - $4.94 per share and revenues of $30.9 billion - $31.0 billion. Analysts polled by Thomson Reuters currently estimate earnings of $4.73 per share and revenues of $30.99 billion.

Previously, Salesforce.com had expected earnings of $4.71 - $4.73 per share and revenues of $30.9 billion to $31.0 billion.

Salesforce announced that Bret Taylor will step down as Vice Chair and Co-CEO of Salesforce, effective January 31, 2023. At that point, Marc Benioff will be Chair and CEO of the company.

"I am grateful for six fantastic years at Salesforce," said Taylor. "Marc was my mentor well before I joined Salesforce and the opportunity to partner with him to lead the most important software company in the world is career-defining. After a lot of reflection, I've decided to return to my entrepreneurial roots. Salesforce has never been more relevant to customers, and with its best-in-class management team and the company executing on all cylinders, now is the right time for me to step away."