Salesforce Sales Jump 24% -- Earnings Review
February 28 2018 - 5:05PM
Dow Jones News
By Austen Hufford
Saleforce.com Inc. (CRM) reported results for its fourth quarter
and year Wednesday. Here's what you need to know:
REVENUE: Total sales for the company rose 24% to $2.85 billion
in the fourth quarter, above the $2.81 billion expected by analysts
as polled by Thomson Reuters. Subscription-related sales rose 26%
to $2.67 billion as professional services revenue rose 6.9% to $196
million. Deferred revenue rose 28% to $7.1 billion.
PROFIT: Net income for the quarter ended in January was $67.6
million, or 9 cents a share, compared to a loss of $51.4 million,
or a loss of 7 cents a share, in the year-ago period. On an
adjusted basis, earnings per share came in at 35 cents, above the
33 cents expected by Wall Street.
SHARES: In post-market trading, shares fell 0.2% to $115.99.
GUIDANCE: For the current quarter, the company expects revenue
of $2.93 billion to $2.94 billion, compared to $2.9 billion
forecast by analysts. It expects adjusted EPS of 43 cents to 44
cents, compared to the 37 cents expected by analysts.
GLOBAL GROWTH: The Americas remained, by far, the company's
largest geographic unit, bringing in $2.04 billion in revenue and
19% growth. This was followed by Europe, Middle East and Africa,
with $536 million in revenue and 48% growth. Asia-Pacific had
revenue of $273 million and 27% growth.
SEASONAL BUMP: The company noted that it sees a disproportionate
weighting toward yearly billings in the fourth quarter, primarily
due to the buying patterns of large enterprise accounts.
Write to Austen Hufford at Austen.Hufford@wsj.com
(END) Dow Jones Newswires
February 28, 2018 16:50 ET (21:50 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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