Salesforce.com, Inc. (NYSE: CRM | CRM Price Prediction) released fiscal first quarter after markets closed Tuesday. The firm said that it had $0.93 in earnings per share (EPS) and $3.74 billion in revenue, compared with consensus estimates that called for $0.61 in EPS and $3.68 billion in revenue. The same period from last year had $0.74 in EPS and $3.01 billion in revenue.
In terms of the revenue breakdown, subscription and support revenues were $3.50 billion in the latest period, an increase of 24% year over year, while professional services and other revenues were $241 million, an increase of 23%.
Unearned revenue on the balance sheet as of April 30, 2019, was $7.59 billion, an increase of 22.3% year over year.
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Looking ahead to the fiscal second quarter, Salesforce expects to see EPS in the range of $0.46 to $0.47 and revenue between $3.94 billion and $3.95 billion. The consensus estimates are $0.66 in EPS and $3.94 billion in revenue for the quarter.
Marc Benioff, board chair and co-CEO, commented:
I am thrilled with our results this quarter, and I am especially excited to have delivered record revenue in Q1 and operating cash flow of almost $2 billion, up 34% year-over-year. We have a massive opportunity in front of us and are well-positioned for long-term growth as the world’s #1 CRM.
Shares of Salesforce closed Tuesday at $150.76, with a 52-week range of $113.60 to $167.56. The stock has a consensus analyst price target of $182.18. Following the announcement, the stock was up 3.5% at $156.00 in the after-hours trading session.
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