Salesforce beats on earnings and revenue but full-year guidance comes in light
Salesforce reported better-than-expected earnings and revenue for the quarter ending April 30, but its full-year guidance fell short of Wall Street expectations. The company experienced a 13% year-over-year revenue increase, with net income rising significantly. Despite these results, concerns about artificial intelligence's impact on growth have led to a 33% decline in Salesforce shares this year.
- ▪Salesforce's adjusted earnings per share were $3.88, exceeding the expected $3.12.
- ▪Revenue for the quarter was $11.13 billion, slightly above the expected $11.05 billion.
- ▪The company raised its full-year earnings forecast to between $14.06 and $14.12 per share.
Opening excerpt (first ~120 words) tap to expand
Salesforce reported stronger-than-expected quarterly results on Wednesday, but the cloud software vendor issued full-year guidance that was slightly below Wall Street expectations. The stock was little changed in extended trading. Here's how the company did relative to LSEG consensus:Earnings per share: $3.88 adjusted vs. $3.12 expectedRevenue: $11.13 billion vs. $11.05 billion expectedRevenue increased 13% year over year during the quarter, which ended on April 30, according to a statement. Net income rose to $2.11 billion, or $2.42 per share, from $1.54 billion, or $1.59 per share, a year earlier.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at CNBC — Top.
Discussion
0 commentsMore from CNBC — Top
