Salesforce Shares Rise on Better-Than-Expected 2Q Revenue, Upbeat Guidance
August 22 2019 - 5:13PM
Dow Jones News
By Dave Sebastian
Shares of Salesforce.com Inc. (CRM) rose 6.62% in after-hours
trading after it posted a higher second-quarter revenue and raised
its full-year revenue guidance.
The cloud-based software company posted quarterly revenue of $4
billion, up from $3.28 billion in the comparable quarter last year.
Analysts polled by FactSet were expecting $3.96 billion.
Salesforce raised its full-year guidance to between $16.75
billion and $16.90 billion, from a range of $16.10 to $16.25
billion.
The company's quarterly earnings declined to $91 million, or 11
cents a share, from $299 million, or 39 cents a share, in the prior
year due to higher operating expenses. Analysts had expected a loss
of 5 cents a share.
The company slashed its full-year per-earnings guidance to
between 28 cents and 30 cents, from between 78 cents and 80 cents.
It raised its full-year adjusted earnings per share guidance to
between $2.82 and $2.84, from a range of $2.88 to $2.90.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
August 22, 2019 16:58 ET (20:58 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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