Marc Benioff has had a lot on his plate recently. The billionaire Salesforce CEO watched as rising interest rates, stubborn inflation, and slowing tech spending pushed shares of his cloud computing giant down nearly 60% from their November 2021 peak to a low of under $130 late last year. And activist investors—which often seek board seats and push for strategic changes at companies—are waiting in the wings amid criticism that Benioff has allowed costs to run rampant at his company. But despite the setbacks, a new focus on profitability has investors singing the CEO’s praises this week.
Wedbush tech analyst Dan Ives said Thursday that Salesforce delivered a “masterpiece quarter” this earnings season amid a “murky” economic backdrop.
