Salesforce.com, inc. (CRM) Tops Q4 Expectations, Shares Slide

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Salesforce.com, inc. (NYSE:CRM) reported on its latest period after the bell Wednesday, unveiling results that were better than analysts’ expectations.

Salesforce.com, inc. (CRM) XXXThe company posted adjusted earnings of 35 cents per share, beating the 33 cents per share that analysts were calling for, according to data compiled by Thomson Reuters. Revenue came in at $2.85 billion during the company’s fourth quarter, ahead of the $2.81 billion that the Wall Street consensus estimate called for, per Thomson Reuters.

For its full fiscal year, Salesforce earned $1.35 per share on an adjusted basis, which was stronger than the $1.34 per share that analysts were projecting, according to Thomson Reuters. Revenue for the year was $10.48 billion, a 25% gain compared to the year-ago quarter, while also topping the $10.44 billion that analysts called for in their guidance, per Thomson Reuters.

The company’s quarterly revenue is comprised mostly of its subscriptions and support, which made up about $2.66 billion of its fourth-quarter sales, topping the $2.59 billion that FactSet predicted. However, Salesforce’s professional services segment missed the mark as the company brought in $196 million, below the $218.2 million that analysts polled by FactSet expected.

For its first quarter, the company sees earnings in the range of 43 cents to 44 cents per share on an adjusted basis, better than the Thomson Reuters guidance of 37 cents per share. Salesforce forecasts revenue in the range of $2.925 billion to $2.935 billion, above the $2.9 billion that Thomson Reuters predicts in its outlook.

CRM stock fell about 0.1% after the bell Wednesday.


Article printed from InvestorPlace Media, https://investorplace.com/2018/02/salesforce-com-inc-crm-2/.

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