Salesforce Spent $1.7 Billion on Buybacks. It Has Nothing to Show for It.

Timothy Green, The Motley Fool

December 2, 2022 at 6:50 a.m.·3 min read

Salesforce Spent $1.7 Billion on Buybacks. It Has Nothing to Show for It.

The stock market did not like the third-quarter earnings report from subscription software giant Salesforce (NYSE: CRM). More concerning than all of this, though, is the splashy $10 billion share buyback program Salesforce unveiled earlier this year. "...we're thrilled to initiate our first-ever share repurchase program to continue to deliver incredible value to our shareholders on our path to $50 billion in revenue in FY26," said co-CEO Marc Benioff in August.

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