By Kathryn Hardison

Salesforce Inc. on Wednesday forecast its profitability would increase in the coming year as the business-software provider faces activist shareholders focused on spending levels. Shares rallied 15% in after-hours trading.

Funko Inc. reported a wider-than-expected loss in the fourth quarter and guided for first-quarter revenue below Wall Street estimates. The pop culture lifestyle brand also faces a glut of inventory that will weigh on results in the 1H. Shares tumbled 27% in after-hours trading.

Snowflake Inc. reported a surge in fourth-quarter revenue as it added more customers, though the data cloud company guided for fiscal first-quarter product revenue to come in below consensus. Shares fall 7.1% in after-hours trading.

Okta Inc. reported a narrower loss and beat revenue estimates in the fourth quarter while issuing an outlook for the first quarter and 2024 above Wall Street's estimates. Shares gained 13% in after-hours trading.

Write to Kathryn Hardison at kathryn.hardison@wsj.com

(END) Dow Jones Newswires

March 01, 2023 18:31 ET (23:31 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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