The enterprise software maker reported earnings of $1.48 per share, including a 43-cent investment gain
Salesforce late Wednesday reported July quarter per-share earnings and revenue ahead of analyst estimates, including a small contribution from recently acquired Slack Technologies. CRM stock gained as Salesforce earnings guidance came in above Wall Street targets.
Salesforce reported earnings of $1.48 per share, including a 43-cent investment gain, on an adjusted basis. Moreover, revenue jumped 23% to $6.34 billion, including the acquisitions of Slack and Accumen which closed on July 21.
A year earlier, Salesforce earnings were $1.44, including investment gains on revenue of $5.15 billion. Excluding investment gains, Salesforce earned $1.05 in the July quarter versus 68 cents a share a year earlier.
Analysts expected Salesforce to report earnings of 92 cents a share on sales of $6.24 billion.
The enterprise software maker said current remaining performance obligations, or CRPO bookings, rose 23% to $18.7 billion. That topped analyst estimates of $18.23 billion. CRPO bookings are an aggregate of deferred revenue and order backlog.
CRM stock gained 1.3% to 264.27 in extended trading on the stock market today. Heading into the earnings report, Salesforce stock traded nearly 4% below an entry point of 271.02.
Salesforce’s revenue outlook for the current quarter ending in October came in above expectations. The software maker expects revenue between $$6.78 billion to $6.79 billion compared with estimates of $6.65 billion.
The company forecast earnings in a range of 91 cents to 92 cents a share against analysts’ projections of a profit of 82 cents a share.
Salesforce sells software under a subscription model. Its software helps businesses organize and handle sales operations and customer relationships.
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.