Cloud Companies’ Outlook Cools as Customers Tighten Spending
Cloud businesses are reporting slowing sales growth, as economic worries weigh on the once-booming sector.After years of rising pandemic-fueled demand, some cloud companies cut their revenue-growth outlook in quarterly results this week, citing pressure on customers to rein in spending and wider concerns of a slowing economy. On Wednesday,
Salesforce Inc.,
CRM -3.39%
one of the largest vendors of cloud business software, reduced its full-year outlook. The sales software…