salesforce inc produced better adjusted earnings than expected in the fourth quarter and executives projected big profit gains this year in a wednesday report sending shares more than 12 higher amid activistinvestor pressure salesforce crm reported a fourthquarter loss of 98 million or 10 cents a share on revenue of 838 billion up from 733 billion a year ago after adjusting for stock compensation and other costs including 84 cents a share in restructuring costs from recent layoffs the cloudsoftware company reported earnings of 168 a share up from 84 cents a share last year analysts on average expected adjusted earnings of 136 a share the middle of the forecast range provided by salesforce executives on sales of 799 billion according to factset salesforce shares topped 190 in afterhours trading immediately following the release of the results after closing with a 23 increase at 16734 salesforce shares have been on a tear this year as activist investors have piled into the stock in unprecedented fashion at least five activists have reportedly amassed investments in salesforce as the stock has gained more than 25 this year the strongest yeartodate gain for a dow jones industrial average djia component indepth ‘no one is immune’ activist investors target tech companies after stocks dive those gains follow the worst year for salesforce stock since 2008 as shares dove 478 while earnings declined despite revenue growth of nearly 25 in the fiscal year that ended in january 2022 profit dropped nearly 65 on a gaap basis and 3 on an adjusted pershare basis in the fiscal year that just ended adjusted earnings returned to growth salesforce reported wednesday while gaap earnings fell to 208 million from 144 billion adjusted earnings rose to 524 a share from 478 a share the previous year revenue increased 183 to 3135 billion for the entire year as the fiscal year was wrapping up salesforce announced it would lay off 10 of its roughly 80000 workers chief executive marc benioff said at the time that “we hired too many people leading into this economic downturn we’re now facing and i take responsibility for that” opinion marc benioff’s salesforce fairy tale is crumbling down around him that move is part of what wall street expects from salesforce a focus on profit margins instead of revenue growth “with the potential for further large costcutting and likely pressure by upwards of 5 activist shareholders we believe progress on strengthening profits and cash flow  achieving fy26 margin target could be more important in near term than revsdemand kpis” truist analysts wrote tuesday while reducing their estimates for fourthquarter results but maintaining a “buy” rating and 210 price target salesforce executives guided for fiscalyear adjusted profit of 712 to 714 a share and revenue of 345 billion to 347 billion wednesday while analysts on average were expecting annual earnings of 587 a share on sales of 3389 billion according to factset in the first quarter executives expect adjusted earnings of 160 to 161 a share on revenue of 816 billion to 818 billion beating the average analyst estimate of 132 a share on sales of 801 billion for more salesforce reportedly faces board challenge from activist investor