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Salesforce.com Inc (NYSE:CRM) – Salesforce Shares Tick Lower On Weak EPS Guidance

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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.”

See Also: Dan Nathan Sees Unusual Options Activity In Salesforce

Highlights

  • 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.

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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