Good Evening! Wednesday’s closing prices for U.S. equities were mixed, after the release of two employment reports indicating that the labor market remained tight despite persistent inflation.
The S&P 500 gained 0.14% on the day, while the Dow Jones fell 0.18%. The Nasdaq Composite increased by 0.40%.
BEATING EXPECTATIONS
CrowdStrike Holdings (CRWD) shares increased due to quarterly earnings and sales that exceeded market expectations. In addition, sales projections exceeded Wall Street’s expectations, propelling CRWD shares higher.
- Revenue: $637.4 Million vs. $625 Million Expected
- Earnings Per Share: $0.47 vs. $0.43 Expected
On top of that, CrowdStrike gained 1,873 net new subscription subscribers. It has a total of 23,019 subscription users as of January 31, 2023, meaning an increase of 41% year-over-year.
Going forward… the market loves what it sees. Following its Q4 financial results, CrowdStrike’s management released formal financial goals for its fiscal 2024, including a full-year sales forecast of around $3 billion. This reflects around a 34% year-over-year increase, down from its 54% growth in fiscal 2023. Yet, this forecast is still ahead of Wall Street’s expectations and it contributed to the gains today for CrowdStrike shares.
MORE PRODUCTIVE?
The messaging app Slack which is owned by Salesforce said that it is launching ChatGPT-based AI features that will help you compose responses, discover answers to inquiries, and summarize lengthy threads or channels. However, There’s presently a waiting to test the program.
Why should you care? Salesforce promotes the app’s ability to make employees more productive, but exactly how productive is up for discussion since the AI-generated messages may take longer to edit and fact-check than simply composing them yourself. On top of that, the Google AI chatbot has already made headlines for providing inaccurate information to consumers.
Zoom Out… Slack’s latest gadget joins a wave of other AI tools and companions that corporations like Microsoft, Meta, and Google are releasing for workers. However, for the technology to be commercialized in a significant way, firms will need to make it useful for the typical marketing associate to utilize at work.