I'm John Fort. You're listening to CNVC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.

Good Wednesday morning. Welcome to Tech Check. I'm Carl Cantanier with John Ford and Dear Drubosa.

Today, breaking down the Salesforce surge, why some are calling it the best barometer of cloud spend right now.

Then even hardware feeling some love today,

the latest on how HP beat estimates, despite this slowdown in the consumer. Later on,

inflation's in focus for tech investors worldwide. Don't miss a check on the economy with Fed

President Mary Daley in just a few moments, John. Yeah, we've got to start with Salesforce.

We're being on the top and bottom lines boosting boosting the stock today up 12.5% sales force upping its profit forecast, but lowering full year revenue guidance.

Here's co-CEO Mark Benio on why they're making the adjustment.

Our guidance is really impacted by foreign exchange. I think that that is what we could not see.

We have now had to consume about $600 million of foreign exchange changes since our investor day

since we first gave guidance last November.

And if you look at that de-acceleration of, for example, the yen since March, I mean,

I've never seen anything like it.

Here to discuss index ventures partner Nina Ashajan and Evercore ISI, senior managing partner,

Kirk Matern. Welcome, guys. Nina, what does this mean for the overall software-as-a-service space?

What kind of demand insights did we get? Because in a way,

it seemed reminiscent of what Frank Slutman told us on Tech Check last week that it's not so much

a macro issue. It's individual customers that we're seeing some rockiness.

Well, thanks so much for having me. It's great to be back. And as an investor in SaaS in the private market, seeing Salesforce's earnings yesterday was a great sign because, as you said, it is a barometer for cloud spending. And I think across the board, we've really hit the reset button on SaaS from a valuation standpoint and also the metrics that matter. But as Salesforce shows us, this is not a doomsday scenario.

You know, stock performance only tells you a certain part of the story, but not the whole

story.

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