Are Salesforce Q3 Earnings Enough For Investors?
Salesforce released its fiscal third-quarter financial results after the markets closed on 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…
Salesforce.com, Inc. (NYSE: CRM | CRM Price Prediction) 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.
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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.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
