Salesforce.com Inc (NYSE:CRM) – Salesforce Shares Tick Lower On Weak EPS Guidance
Salesforce.com, inc. (NYSE: CRM) shares are falling after issuing weak fourth-quarter guidance.
Third-quarter adjusted earnings came in at 75 cents per share, beating estimates by 9 cents. Sales came in at $4.51 billion, beating estimates by $60 million.
The company’s fourth-quarter adjusted earnings guidance came in at 54-55 cents, well short of 62 cents per share consensus estimate.
“We’re now on track to double our revenue in five years,” said Marc Benioff, chairman and co-CEO, Salesforce. “With Customer 360, only Salesforce is providing companies with a single source of truth, bringing them even closer to their customers across every touchpoint.”
- Revenue increased 33% year-over-year
- Subscription and support revenues increased 34% year-over-year
- Professional services and other revenues increased 22% year-over-year
Salesforce stock ticked lower by 2% in Tuesday’s after-hours session. The stock closed the regular session at $161.57 per share.
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