Saleforce.com (NYSE:CRM) earnings for the cloud software company’s fiscal third quarter of 2020 have CRM stock down after markets closed on Tuesday. This comes after reporting adjusted EPS of 75 cents. That’s great compared to Wall Street’s estimate of 66 cents per share. Revenue of $4.51 billion is also better than analysts’ estimates of $4.45 billion for the period.
Now for a more in-depth look at the Q3 Saleforce.com earnings.
- Adjusted per-share earnings are up 22.95% from 61 cents in the fiscal third quarter of 2019.
- Revenue is 33.04% better than the $3.39 billion reported during the same time last year.
- Operating income of $65 million is 29.35% worse YoY from $92 million.
- The Saleforce.com earnings report also sees the company switch to a net loss from net profit in the same period of the year prior.
Marc Benioff, Chairman and co-CEO of Saleforce.com, says this about the CRM stock results.
“We’re now on track to double our revenue in five years. With Customer 360, only Salesforce is providing companies with a single source of truth, bringing them even closer to their customers across every touchpoint.”
The Saleforce.com earnings report also includes its outlook for fiscal 2020. It expects adjusted EPS to range from $2.89 to $2.90 on revenue between$16.99 billion and $17.00 billion. Wall Street is expecting EPS of $2.86 and a revenue of $16.90 billion for the fiscal year.
CRM stock was down 1.74% in after-hours trading on Tuesday. The stock closed out the day up slightly.
As of this writing, William White did not hold a position in any of the aforementioned securities.