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Salesforce CEO Marc Benioff has stated that there is currently no deal in place to sell Time magazine, which he has owned since 2018. Benioff emphasized the importance of fair and balanced journalism and expressed pride in owning Time. The article also mentions Benioff's previous acquisition of Time from Meredith Corp. for $190 million and his decision not to disclose whether he has met with President-elect Donald Trump. The text highlights the recent naming of Trump as Time's person of the year and mentions other technology CEOs who have engaged with the president-elect. [Extracted from the article]

Databricks Inc. is set to raise $10 billion in new funding, increasing its valuation to $62 billion. The company plans to use the capital for new AI products, acquisitions, and expanding its international operations. With a projected $3 billion in annual revenue for 2025, Databricks aims to maintain its rapid growth by investing in its go-to-market operations and engineering talent. The funding round was led by Thrive Capital, with participation from other firms like Andreessen Horowitz and DST Global. [Extracted from the article]

Databricks Inc. is set to raise $10 billion in new funding, increasing its valuation to $62 billion. The company plans to use the capital for new AI products, acquisitions, and expanding its international operations. With a projected $3 billion in annual revenue for 2025, Databricks is experiencing rapid growth and is considering potential acquisitions of AI-focused startups. The funding will also provide liquidity for employees and help offset tax burdens related to selling shares. [Extracted from the article]

Adobe Inc. is facing criticism for the slow rollout of its AI video product compared to OpenAI's Sora service. While Adobe's tool remains in limited testing, Sora has been made available to a wider audience. Investors and users are closely watching the development of AI tools in Adobe products, with concerns about potential disruption from AI impacting the company's stock performance. Adobe plans to expand availability of its video AI in the coming weeks and months. [Extracted from the article]

C3.ai, a data-analysis software company, saw a 13% increase in its stock price after reporting higher-than-expected quarterly revenue and raising its full-year sales forecast. The company's fiscal second-quarter revenue rose by 29% to $94.3 million, surpassing analysts' estimates. C3.ai has been focusing on generative artificial intelligence products, leading to increased interest from corporate customers like Rolls-Royce and the US Navy. CEO Tom Siebel highlighted a partnership with Microsoft Corp. that simplifies the use of C3.ai's software for customers. [Extracted from the article]

Hewlett Packard Enterprise Co. achieved a record high following strong quarterly revenue and increased sales of servers for artificial intelligence applications. The demand for high-powered computing for AI workloads has benefited hardware makers like HPE, Dell Technologies Inc., and Super Micro Computer Inc. Despite concerns about lower margins for AI servers, HPE reported a 15% increase in total revenue to $8.46 billion in the fiscal fourth quarter. The company also announced plans to acquire Juniper Networks Inc., with the deal expected to close in early 2025. [Extracted from the article]

Hewlett Packard Enterprise Co. has reported strong sales growth in AI servers, with revenue from AI systems increasing by 16% to $1.5 billion. However, the company's margins fell short of estimates, which has raised concerns among investors about the profitability of AI servers. HPE is focusing on streamlining costs and managing spend to address these concerns. Additionally, the company is in the process of acquiring Juniper Networks Inc., with plans to close the deal in early 2025. [Extracted from the article]

Hewlett Packard Enterprise Co. has reported strong sales growth in the fiscal fourth quarter, with revenue increasing by 15% to $8.46 billion, surpassing analyst expectations. The surge in demand for high-powered computing to support AI workloads has led to a significant increase in sales of servers, with HPE reporting a 32% jump to $4.71 billion. The company also announced plans to acquire Juniper Networks Inc., a move that has drawn scrutiny from US competition regulators but is expected to close in early 2025. [Extracted from the article]

Salesforce Inc. saw its shares reach a record high after reporting better-than-expected quarterly revenue, driven by its artificial intelligence strategy. The company's sales increased by 8.3% to $9.44 billion, surpassing analysts' estimates. Salesforce's focus on AI tools called agents, particularly Agentforce, has garnered positive attention and contributed to the company's strong performance. Despite some challenges in certain business units, Salesforce remains optimistic about its future growth and profitability. [Extracted from the article]

Salesforce Inc. saw a surge in its shares after reporting higher-than-expected quarterly revenue of $9.44 billion, driven by investor optimism in the company's AI strategy. The company's focus on AI tools called agents, particularly Agentforce, has garnered attention and led to a 13% increase in premarket trading. Despite some initial challenges earlier in the year, Salesforce's new AI strategy has generated excitement and contributed to a record high stock price. The company's profitability and future revenue projections remain positive, with a strong emphasis on AI innovation. [Extracted from the article]

Salesforce Inc. exceeded analysts' expectations with quarterly revenue of $9.44 billion, leading to a 10% increase in share value. The company's focus on artificial intelligence products, particularly Agentforce, has shown promise in tasks like customer support and sales development. Despite initial success, Salesforce's acquisitions like Slack and Mulesoft experienced slower sales growth in the fiscal third quarter. [Extracted from the article]

Salesforce Inc. reported strong quarterly revenue, exceeding analysts' estimates, driven by the company's focus on artificial intelligence products. The company's AI strategy, particularly Agentforce, aims to automate tasks like customer support and sales development. Despite initial success with Agentforce, Salesforce's acquired divisions experienced slower sales growth, with increased competition in the e-commerce sector. The company's stock rose over 50% on optimism for its new AI strategy, with revenue expected to reach $9.9 billion to $10.1 billion in the current quarter. [Extracted from the article]

Salesforce Inc. exceeded analysts' expectations with a 8.3% increase in sales, reaching $9.44 billion in the quarter ending Oct. 31. The company's focus on AI products, particularly Agentforce, has generated investor optimism and led to a 3.5% increase in stock value in extended trading. CEO Marc Benioff expressed confidence in Agentforce, leading to a hiring surge of 1,000 employees to sell the product. The company's revenue forecast for the current quarter is between $9.9 billion to $10.1 billion, in line with analysts' estimates. [Extracted from the article]

Autodesk Inc. CEO Andrew Anagnost has announced a focus on cost-cutting in sales and marketing teams following pressure from activist investor Starboard Value LP. The company aims to optimize sales and marketing operations to increase profitability. Anagnost also mentioned the appointment of a new CFO and an additional $5 billion buyback authorization during the quarterly earnings announcement. The company is striving for operational excellence and accountability in financial management. [Extracted from the article]

Dell Technologies Inc. and HP Inc. experienced a decline in their stock prices after reporting disappointing PC sales, with Dell's PC business revenue falling 1% and HP's PC unit sales missing analyst estimates. The companies attributed the weak results to delays in the PC refresh cycle and slower-than-expected corporate demand following the release of Microsoft's new Windows software. Despite hopes that new AI-optimized servers would drive demand, both companies fell short of revenue expectations, leading to significant drops in their stock prices. Dell's infrastructure unit, however, saw a 34% increase in sales, driven by high-powered servers for AI workloads. [Extracted from the article]

Dell Technologies Inc. and HP Inc. experienced a decline in their stock prices after reporting disappointing PC sales, with Dell's PC business revenue falling 1% and HP's PC unit sales missing analyst estimates. The companies attributed the weak results to delays in the PC refresh cycle and slower-than-expected corporate demand following the release of Microsoft's new Windows software. Despite hopes that new AI-optimized servers would drive demand, both companies fell short of revenue expectations, leading to a drop in their stock prices. Dell's infrastructure unit, however, saw a 34% increase in sales, driven by high-powered servers for AI workloads. [Extracted from the article]

Dell Technologies Inc. and HP Inc. reported disappointing sales in the personal computer market, with Dell's PC business revenue declining and HP's missing analyst estimates. The PC refresh cycle is expected to extend into the next year, and the release of Microsoft's new Windows software did not boost sales as anticipated. While Dell's infrastructure unit saw growth, total revenue fell short of estimates. Both companies experienced a drop in shares following the news. [Extracted from the article]

Dell Technologies Inc. and HP Inc. reported disappointing sales in the personal computer market, indicating a slowdown in the long-awaited recovery. Dell's PC business revenue declined by 1%, while HP's PC unit sales missed analyst estimates. The decline in PC sales was attributed to a delay in the PC refresh cycle and a lack of clear benefits from new AI-optimized machines. Dell's infrastructure unit, however, saw a 34% increase in sales due to high-powered servers for AI workloads. Dell's revenue outlook for the next quarter fell short of analyst estimates, as did HP's earnings outlook. [Extracted from the article]

Dell Technologies Inc. and HP Inc. recently reported disappointing sales in their PC businesses, indicating a slowdown in the personal computer market's recovery. Dell's PC revenue declined by 1%, while HP's PC unit sales missed analyst estimates. Despite hopes for a rebound, the PC market saw a decline in shipments in the third quarter, with PC makers attributing this to a lack of clear benefits or business value in new machines. Dell's infrastructure unit, however, saw a 34% increase in sales, driven by high-powered servers for artificial intelligence workloads. [Extracted from the article]

HP Inc. provided a profit outlook for the current quarter that was below expectations, indicating a slowdown in the recovery of the personal computer market. The company cited an increase in component costs as the main factor affecting profitability, with hopes that prices will decrease later in the year. Despite a slight increase in sales in the fiscal fourth quarter, HP's personal computer business missed revenue estimates due to slower-than-expected sales to businesses. The printing segment, however, experienced growth for the first time since late 2021. [Extracted from the article]

Snowflake Inc. has provided a positive sales outlook, indicating strong customer reception for its new products. The company's product revenue is expected to be between $906 million and $911 million, surpassing analyst predictions. Snowflake's CEO, Sridhar Ramaswamy, has introduced new products utilizing generative AI and announced the acquisition of Datavolo Inc. to enhance data analysis capabilities. Despite recent challenges, including leadership changes and competition from rivals like Databricks Inc., Snowflake's fiscal third-quarter product revenue increased by 29% to $900.3 million. [Extracted from the article]

Salesforce Inc. is planning to hire over 1,000 employees to sell its new generative AI agent product, Agentforce. The company aims to capitalize on the positive reception and momentum of this new artificial intelligence offering. Salesforce, known for its customer relations management software, has shifted its AI strategy to focus on autonomous agents that can handle tasks like customer support and sales development. Other software companies like ServiceNow Inc. and Microsoft Corp. are also developing similar autonomous agents, with Salesforce CEO Marc Benioff criticizing Microsoft's AI efforts. [Extracted from the article]

Ancestry.com Inc. stated that acquiring 23andMe Holding Co. would likely pose antitrust challenges due to their positions as the top two companies in the consumer genetic testing industry. 23andMe, which went public in 2021, has seen a significant decline in its shares as DNA testing kit sales have slowed. Ancestry, led by Deborah Liu, is the largest consumer genealogy company with a strong product and data network, and it may not be interested in acquiring 23andMe even if allowed. [Extracted from the article]

ServiceNow Inc. reported strong third-quarter sales and bookings, with subscription sales increasing by 23% to $2.7 billion. The company's generative AI assistant product, Now Assist, is experiencing rapid growth, with an average contract premium of 30%. ServiceNow is also focusing on AI "agents" that can complete tasks without user supervision, with plans to release them broadly next month. The company's hiring of a leader from Google Cloud and its strong financial performance indicate its position in the enterprise software market. [Extracted from the article]

ServiceNow Inc. reported strong third-quarter sales and bookings, exceeding analysts' estimates, with subscription sales increasing by 23% to $2.7 billion. Despite this, the company's shares slid in late trading, as investors were disappointed by the lack of a bigger boost from artificial intelligence. ServiceNow is incorporating generative AI features into its products, with the fastest-growing product being Now Assist, which has seen a 30% average contract premium for users. The company also announced the hiring of a leader from Google Cloud for a prominent role, and reported profit of $3.72 per share, ahead of analyst estimates. [Extracted from the article]

ServiceNow Inc. reported strong third-quarter sales and bookings, exceeding analysts' estimates, with subscription sales increasing by 23% to $2.7 billion. Despite this, the company's stock slid slightly in late trading, as investors were expecting a larger boost from artificial intelligence features. ServiceNow is incorporating generative AI into its products, with its main AI assist product, Now Assist, experiencing significant growth. The company also announced the hiring of a leader from Google Cloud for a key role. [Extracted from the article]

ServiceNow Inc. reported strong sales growth in the third quarter, with subscription sales increasing by 23% to $2.7 billion. The company's generative AI product, Now Assist, is experiencing rapid growth, but investors were disappointed by the financial impact of AI products, causing a 1% drop in share prices. ServiceNow is focusing on AI "agents" that can complete tasks without user supervision, with plans to release them more broadly next month. The company also announced the hiring of a leader from Google Cloud for a key role. [Extracted from the article]

Microsoft has launched a new set of artificial intelligence tools called "autonomous agents" that can complete tasks such as sales, customer support, and accounting on behalf of business workers. These agents will be available in a public preview starting in December 2024. Microsoft's AI push intensifies competition with rivals like Salesforce, who also recently introduced their own AI tool called Agentforce for customer service tasks. Pricing for Microsoft's agents has not been announced, but they will be added to the Dynamics 365 software. [Extracted from the article]

Dell Technologies Inc. will soon start shipping servers with Nvidia Corp.'s Blackwell artificial intelligence accelerators, indicating that production of the chip is back on track. The servers will be sent to select customers next month and will be available to the general public in early 2025. Dell is focused on expanding its business in selling high-powered servers for AI work, and investors have been optimistic about this new growth opportunity. However, some analysts have expressed concerns about the profitability of Dell's AI-oriented products and its competitive position against rivals. [Extracted from the article]

Adobe Inc. CEO Shantanu Narayen announced that the company's new video-generating AI product will have a different pricing structure compared to its other AI tools. Narayen stated that producing video is more expensive, and as the demand for video content increases, Adobe will likely introduce different pricing models. While Adobe currently offers AI features without additional charges, Narayen suggested that video AI may be subject to different pricing. The announcement caused a 2.9% increase in Adobe's stock, which had previously declined due to concerns about competition from other AI tool providers. [Extracted from the article]

Oracle Corp. has announced that it owns a 29% stake in Ampere Computing LLC, a startup chipmaker, and has the option to acquire control of the company through future investments. Oracle has invested $600 million in convertible debt issued by Ampere and could exercise options to acquire additional equity, which would allow it to consolidate Ampere's results with its own. Ampere, which specializes in server processors using Arm Holdings Plc technology, is exploring a potential sale and is no longer pursuing an initial public offering. Oracle has reduced its purchases of Ampere chips but still holds a significant investment in the company. [Extracted from the article]

Oracle Corp. has announced that it currently owns 29% of Ampere Computing LLC, a startup chipmaker, and has the option to acquire additional equity that would give it control of the company. In addition to its equity stake, Oracle has invested $600 million in convertible debt issued by Ampere. If Oracle exercises its options to acquire more equity, it would gain control of Ampere and consolidate its results with its own operations. Ampere is exploring a potential sale and is no longer pursuing an initial public offering. Oracle has reduced its purchases of Ampere chips but still has a remaining prepayment of $101.1 million. [Extracted from the article]

Salesforce CEO, Marc Benioff, announced that the company's new artificial intelligence software is a comprehensive solution for businesses looking to utilize AI technology. The software focuses on building AI "agents" that can perform specific tasks without human supervision, such as customer service or scheduling sales meetings. Benioff aims to have a billion agents with customers within the next year. While this technology may replace workers, it allows companies to increase their workforce capacity during busy periods without hiring additional employees. The stock rose 5.4% following the announcement. Benioff also addressed reports that Walt Disney Co. would stop using Salesforce's Slack tool after a hack, emphasizing the importance of customer measures to prevent security breaches. [Extracted from the article]

Adobe Inc. shares have dropped after the company's sales outlook failed to meet investor expectations for new artificial intelligence (AI) tools. While Adobe has been incorporating AI features into its software, investors are concerned about the company's ability to generate revenue from these tools and compete with smaller startup rivals. The company's fiscal fourth-quarter sales guidance fell short of Wall Street estimates, causing the stock to decline. Adobe executives emphasized the importance of customers using their AI innovations and mentioned plans to develop similar technology for 3D and video-editing software. However, investors were hoping to see more immediate results from AI. [Extracted from the article]

Adobe Inc. shares have experienced a significant decline after the company issued a disappointing sales outlook. Investors are eager to see new artificial intelligence (AI) tools generate revenue for the company, as Adobe has been incorporating AI features into its software. The company's fiscal fourth-quarter sales guidance fell short of Wall Street estimates, causing concern among investors. While Adobe is focused on ensuring customers utilize its AI innovations, investors were expecting more tangible results from AI in the second half of the fiscal year. Despite this setback, Adobe's document-processing software has exceeded expectations, with a significant increase in the use of AI within Document Cloud. [Extracted from the article]

Adobe Inc. shares have dropped after the company's sales outlook failed to meet investor expectations for new artificial intelligence (AI) tools. While Adobe has been incorporating AI features into its software, investors are concerned about the company's ability to generate revenue from these tools and compete with smaller startup rivals. The company's fiscal fourth-quarter sales guidance fell short of Wall Street estimates, causing the stock to decline. Adobe executives emphasized the importance of customers using their AI innovations and mentioned plans to develop similar technology for 3D and video-editing software. However, investors were hoping to see more immediate results from AI. [Extracted from the article]

Adobe Inc. shares have dropped after the company's sales outlook failed to meet investor expectations for new artificial intelligence (AI) tools. While Adobe has been incorporating AI features into its software, investors are concerned about the company's ability to generate revenue from these tools and compete with smaller startup rivals. The company's fiscal fourth-quarter sales guidance fell short of Wall Street estimates, causing the stock to decline. Adobe executives emphasized the importance of customers using their AI innovations and mentioned plans to develop similar technology for 3D and video-editing software. However, investors were hoping to see more immediate results from AI. [Extracted from the article]

Adobe Inc. shares have dropped after the company's sales outlook failed to meet investor expectations for new artificial intelligence (AI) tools. While Adobe has been incorporating AI features into its software, investors are concerned about the company's ability to generate revenue from these tools and compete with smaller startup rivals. The company's fiscal fourth-quarter sales guidance fell short of Wall Street estimates, causing the stock to decline. Adobe executives emphasized the importance of customers using their AI innovations and mentioned plans to develop similar technology for 3D and video-editing software. However, investors were hoping to see more immediate results from AI. [Extracted from the article]

Cox Communications Inc. plans to cut approximately 5% of its workforce due to declining revenue in cable-TV and phone services. The reductions will primarily affect corporate employees who do not interact with customers. The company cites fierce competition and a decline in video and home-phone services as reasons for the revenue decrease. Cox Communications aims to better serve customers, reorganize the company, focus on growth areas, and reduce operational costs. The company, which is part of Cox Enterprises Inc., currently has around 17,000 employees. [Extracted from the article]

Salesforce Inc. has announced its intention to acquire data protection and management solutions provider Own for $1.9 billion. This acquisition aligns with Salesforce's commitment to offering secure solutions for protecting customer data. Own specializes in securing data across software applications and has received funding from Salesforce Ventures, BlackRock Inc., and Tiger Global. The deal is expected to close in the fourth quarter and is Salesforce's largest acquisition since purchasing Slack in 2021. This acquisition does not impact Salesforce's financial guidance or capital return program. [Extracted from the article]

Hewlett Packard Enterprise (HPE) has reported lower-than-expected margins in its AI server business, indicating lower profitability than anticipated. The decline in margins was attributed to a higher mix of AI server revenue. Despite this, HPE saw a 39% increase in revenue from this business line in the third quarter, surpassing analysts' estimates. HPE plans to sell more higher-margin products and services alongside AI servers in the future. The majority of HPE's AI server business comes from cloud service providers, but there is increasing momentum with enterprises and governments. HPE's total revenue increased by 10% in the period, and the company projected further sales growth in the next quarter. HPE also received $2.1 billion from the partial sale of its stake in H3C Technologies Co., which will be used to finance the acquisition of Juniper Networks Inc. [Extracted from the article]

Hewlett Packard Enterprise (HPE) has reported lower-than-expected margins in its AI server business, indicating lower profitability than anticipated. The company's fiscal third-quarter adjusted gross margins were 31.8%, a decline from the previous year. Despite this, HPE saw a 39% increase in revenue from its AI server business, reaching $1.3 billion in the quarter. HPE's CEO, Antonio Neri, stated that the company plans to sell more higher-margin products and services alongside AI servers in the future. HPE's shares declined by 3% in extended trading following the announcement. [Extracted from the article]

Hewlett Packard Enterprise (HPE) CEO Antonio Neri has stated that it is the company's "fiduciary duty" to pursue damages against the estate of Mike Lynch in a civil lawsuit. Lynch, a British tech tycoon, his daughter, and close associates died when his yacht sank off the coast of Sicily. Lynch had been facing a sizable damages claim from HPE in a civil case in London related to the sale of his software company to Hewlett Packard Co. Neri believes that the actions taken by Lynch were not in the interest of shareholders and that HPE needs to see the case through. [Extracted from the article]

Hewlett Packard Enterprise (HPE) has reported lower-than-expected profitability in its server business for artificial intelligence (AI) work. The company's fiscal third-quarter adjusted gross margins were 31.8%, a decline from the previous year. Despite this, HPE saw a 39% increase in revenue from its AI server business, reaching $1.3 billion in the quarter. HPE's CEO, Antonio Neri, stated that the company plans to sell more higher-margin products and services alongside AI servers in the future. Overall, HPE's revenue increased by 10% to $7.71 billion in the period, exceeding analysts' estimates. [Extracted from the article]

Autodesk Inc. has raised its full-year earnings outlook after facing pressure from activist investor Starboard Value LP. The software maker's profit, excluding some items, is expected to be between $8.18 and $8.31 per share in the fiscal year ending in January 2025, surpassing analysts' estimates. Autodesk has been under scrutiny since delaying its financial filings in April due to an accounting investigation, and has since replaced its CFO. Starboard has pushed for changes within the company, including increasing margins and potentially removing the CEO. Autodesk's fiscal second-quarter revenue increased by 12% to $1.51 billion, and its shares rose about 5% in extended trading. [Extracted from the article]

Autodesk Inc. has raised its full-year earnings outlook after facing pressure from activist investor Starboard Value LP. The software maker's profit, excluding certain items, is expected to be between $8.18 and $8.31 per share for the fiscal year ending in January 2025. This forecast surpasses analysts' estimates and represents an increase from the previous outlook. Autodesk has been under scrutiny since delaying its financial filings in April due to an accounting investigation. The company has made changes, including replacing its CFO, and Starboard has called for further changes, such as increasing margins and potentially removing the CEO. Autodesk's fiscal second-quarter revenue increased by 12% to $1.51 billion, exceeding expectations. The company's shares rose by about 5% in after-hours trading. Starboard, which announced its stake in Autodesk in June, has been advocating for more accountability following the accounting investigation. Despite the challenges, Autodesk remains focused on delivering sustainable shareholder value. [Extracted from the article]

Autodesk Inc. has raised its full-year earnings outlook after facing pressure from activist investor Starboard Value LP. The software maker now expects a profit, excluding some items, of $8.18 to $8.31 per share for the fiscal year ending in January 2025, surpassing analysts' estimates. Autodesk has been under scrutiny since delaying its financial filings in April due to an accounting investigation, and has since replaced its CFO. Starboard has been pushing for changes, including increasing margins and potentially removing CEO Andrew Anagnost. The company's fiscal second-quarter revenue increased by 12% to $1.51 billion, beating expectations. [Extracted from the article]

HP Inc. has reported its first sales increase in two years, driven by a resurgence in corporate computer purchases. Fiscal third-quarter sales rose 2.4% to $13.5 billion, with PC sales to businesses leading the growth. The increase in sales was attributed to an aging pool of computers and the upcoming end-of-support for Windows 10, prompting companies to upgrade their equipment. However, sales of consumer-oriented PCs declined 1%. The printing unit also experienced a decline in sales, with businesses having little incentive to upgrade their printers. HP and other companies have recently promoted "AI PCs" with embedded artificial intelligence features, but these devices currently make up a small share of the company's overall business. HP also announced a $10 billion share buyback program. [Extracted from the article]

Workday Inc. shares have surged after executives announced plans to significantly increase profitability over the next three years. The company aims to achieve an adjusted operating margin of 30% by January 2027, up from the previously stated goal of 25%. Workday also expects subscription revenue growth of around 15% in the coming fiscal years. The emphasis on profit will allow the company to strategically invest in growth initiatives. Workday plans to save money by being selective in hiring and utilizing artificial intelligence in its call centers and finance departments. The company is also expanding its workforce in Costa Rica and India. Despite concerns about quarterly results and sales forecasts, the positive long-term outlook has boosted investor confidence. Workday reported a 17% increase in subscription revenue to $1.9 billion in the fiscal second quarter and maintained its fiscal-year subscription forecast of up to $7.73 billion. The company also announced a $1 billion share buyback program. Workday has been introducing new features and expanding its customer base under the leadership of CEO Carl Eschenbach. The company recently partnered with Salesforce Inc. to develop an AI tool. Analysts had expressed concerns about the potential impact of corporate job reductions on software makers like Workday, but the company's near-term subscription backlog remains strong at $6.8 billion. Workday reported a profit of $1.75 per share in the period ending July 31, surpassing the average estimate of $1.64. [Extracted from the article]

Workday Inc. shares rose in after-hours trading after executives announced plans to increase profitability over the next three years. The company's adjusted operating margin is expected to reach 30% by January 2027, up from a previous estimate of 25%. Workday will focus on strategic investments for growth initiatives, including selective hiring and the use of artificial intelligence. The company also announced a partnership with Salesforce Inc. to develop an AI tool. Despite concerns about job reductions affecting software makers, Workday's near-term subscription backlog remains strong. [Extracted from the article]