赛富时：Conservative guidance weighs on sentiment; strong Data Cloud & AI momentum-20250303

3 Mar 2025 CMB International Global Markets | Equity Research | Company Update Salesforce (CRM US) Conservative guidance weighs on sentiment; strong Data Cloud & AI momentum Salesforce reported 4QFY25 results: total revenue grew by 9% YoY in constant currency to US$10.0bn, in line with Bloomberg consensus estimate; non-GAAP net income was up by 20$2.7bn, 6% ahead of consensus estimate thanks to enhanced operating efficiency. For FY26E, management guided total revenue of US$40.5-40.9bn (+7-8% YoY ...