Technology

Are Salesforce Q3 Earnings Enough For Investors?

salesforce.com

Salesforce.com, Inc. (NYSE: CRM) released fiscal third-quarter financial results after markets closed Thursday. The firm said that it had $0.75 in earnings per share (EPS) and $4.5 billion in revenue, compared with consensus estimates that called for $0.66 in EPS and $4.45 billion in revenue. The same period from last year had $0.61 in EPS and $3.39 billion in revenue.

During the quarter, revenues grew 33% year over year, and 34% in constant currency.

Subscription and support revenues were $4.24 billion, an increase of 34%. Professional services and other revenues increased by 22% to $274 million.

Looking ahead to the fiscal first quarter, the company expects to see EPS in the range of $0.54 to $0.55 and revenue in the range of $4.743 billion to $4.753 billion. Consensus estimates are calling for $0.62 in EPS and $4.72 billion in revenue for the coming quarter.

Marc Benioff, chairman & co-CEO of Salesforce, commented:

We’re now on track to double our revenue in five years. With Customer 360, only Salesforce is providing companies with a single source of truth, bringing them even closer to their customers across every touchpoint.

Shares of Salesforce closed at $161.56, with a 52-week range of $120.16 to $167.56. The consensus analyst price target is $189.20. Following the announcement, the stock was initially down about 1% at $160.20 in the after-hours session.

Essential Tips for Investing: Sponsored

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.