Salesforce.com Up 2 Percent After Q3 Results; Lifts Full-Year Earnings Guidance
Enterprise cloud-computing leader Salesforce.com (NYSE: CRM) released its fiscal third-quarter earnings results after the closing bell on Tuesday. In the wake of the earnings report, the stock traded up well over two percent in pre-market trading.
The San Francisco, California-based company reported a net loss of $220.20 million or $1.55 per share, compared to $3.76 million or $0.03 per share in the year ago period.
On an adjusted basis, the company said that its non-GAAP net income was $49.64 million or $0.33 per share, compared to $49.01 million or $0.34 per share, in the year ago period. This beat Wall Street analysts' consensus EPS estimates of $0.32.
Total revenue in the quarter rose to $788.40 million, up from $584.26 million in the year ago period. This also came in ahead of Wall Street revenue expectations of $776.52 million.
Looking ahead, Salesforce.com said that it expects Q4 non-GAAP earnings per share of $0.38 to $0.40 on revenue of $825 million to $830 million. Currently, analysts are modeling EPS of $0.40 on revenue of $829.88 million for the fourth-quarter.
For fiscal 2013, Salesforce.com raised its adjusted EPS view. The company now expects adjusted earnings per share of $1.50 to $1.52 on revenue of $3.041 billion to $3.046 billion. Currently, analysts expect the company to earn $1.50 per share on revenue of $3.03 billion for fiscal 2013.
For fiscal 2014, the company provided revenue guidance of $3.80 billion to $3.85 billion. This compares to current consensus of $3.83 billion for fiscal 2014.
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