has raised its full-year forecast for revenue as well as profit, and reported quarterly revenue that beat analysts' estimates.

This followed increased demand for its cloud-based software due to a pandemic-led shift to remote work.

Online software providers are reaping the benefits as many companies are continuing with the option of remote work even as vaccination rates rise in many countries.

Salesforce agreed to buy Slack Technologies in December to provide a unified platform for businesses to connect their employees, customers and partners with each other and the apps they use.

This intensified its competition against Microsoft, whose Teams software is Slack's biggest rival.

Salesforce raised its annual revenue forecast to between $25.90 billion and $26 billion, above estimates of $25.76 billion.

The company expects full-year adjusted profit between $3.79 and $3.81 per share, beating Wall Street expectations of $3.43.

Salesforce reported total revenue of $5.96 billion in the first quarter, compared with analysts' estimates of $5.89 billion, according to IBES data from Refinitiv.

The company's subscription and support revenue for the quarter rose 21% to $5.54 billion.

On an adjusted basis, Salesforce earned $1.21 per share, beating estimates of 88 cents per share.