Salesforce.com (NYSE:CRM) earnings for first quarter of fiscal 2021 have CRM stock on the move after-hours Thursday. That’s despite it reporting adjusted earnings per share (EPS) of 70 cents on revenue of $4.87 billion. These are both better than Wall Street’s estimates of 69 cents per share and revenue of $4.85 billion.
Now, let’s take a deeper dive into the most recent Salesforce.com earnings report.
- Adjusted per-share earnings are down 24.7% from 93 cents in the first quarter of fiscal 2020.
- Revenue for the quarter comes in 30.2% higher than the $3.74 billion reported during the same time last year.
- Operating loss of $140 million is a poor change year-over-year from an operating income of $210 million.
- The Salesforce.com earnings report also includes a net income of $99 million.
- That’s a 74.8% decrease from the company’s net income of $392 million from the same period of the year prior.
Marc Benioff, chairman and CEO of Salesforce.com, included this statement in the Q1 earnings report:
“Our results, amidst this global crisis, demonstrated our ability to execute at speed, innovate at scale and the strength of our business model. The pandemic showed us that digital is an imperative for every company, and we’re confident Salesforce will continue to accelerate as we bring our customers into the new normal.”
Salesforce.com also provides a fiscal 2021 guidance update in its current earnings report. The company is expecting adjusted EPS to range from $2.93 to $2.95 on revenue of roughly $20 billion. Unfortunately for CRM stock, though, Wall Street is expecting adjusted EPS of $3.10 on revenue of $20.77 billion for the fiscal year.
CRM stock was down 4.3% after markets closed on Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
