Salesforce.com (NYSE:CRM) reported its quarterly earnings results late today bringing in a profit that topped Wall Street’s guidance, while sales gained more than 20% year-over-year, playing a role in lifting CRM stock after hours.
The San Francisco, Calif.-based cloud software company announced an adjusted profit of 93 cents per share for its first quarter of 2019, topping the 61 cents per share that analysts called for, according to data compiled by Refinitiv. Revenue tallied up to $3.74 billion, which marked a 24% year-over-year, while also topping the Refinitiv sales outlook of $3.68 billion.
For its second quarter of the current fiscal year, the company forecasts adjusted earnings of 46 cents to 47 cents per share, as well as revenue of around $3.94 billion. Salesforce added that it sees its 2019 earnings in the range of $2.88 to $2.90 per share on an adjusted basis, ahead of the $2.66 per share that analysts surveyed by Refinitiv predict.
The company full-year projects revenue somewhere in between $16.10 billion and $16.25 billion, while Wall Street sees this figure at $16.12 billion, per Refinitiv.
CRM stock increased 2.5% after hours off the heels of a strong three-month period. Salesforce shares had been popping 4% during regular trading hours.
