Salesforce beats second-quarter estimates on steady cloud demand

(Reuters) – Salesforce beat Wall Street expectations for second-quarter revenue and profit on Wednesday, as the business software giant benefited from higher spending on its enterprise cloud products.

Shares of the company rose more than 4% in extended trading.

Salesforce also said finance chief Amy Weaver will step down from the role but will remain in the position till a successor is appointed.

The company’s results reflect that client spending on its suite of cloud products is picking up as the software-as-a-service pioneer battles stiff competition from rising industry players like ServiceNow.