Market Overview

Salesforce Up 5% After Q4 Earnings

Salesforce Up 5% After Q4 Earnings

Leading cloud computing vendor Salesforce.com (NYSE: CRM) released its fiscal fourth-quarter earnings results on Thursday after the closing bell. In late trading, the stock was up around 5%.

Salesforce reported a net loss of $220.8 million or $0.14 per share, compared to a loss of $4.1 million or $0.03 per share, in last year's corresponding period.

Non-GAAP net income rose to $77.7 million or $0.51 per share, versus $61.6 million or $0.43 per share, in last year's fourth-quarter. This easily beat consensus EPS estimates of $0.40.

Sales rose 32 percent in the period to $834.68 million versus $631.91 million a year ago. This also beat Wall Street sales estimates of $830.85 million.

Looking ahead to the first quarter, the company said that it expects to report a GAAP loss and non-GAAP earnings per share of $0.40 to $0.42. Revenue is expected to be between $882 million and $887 million. This compares to current analysts' consensus of $0.42 on revenue of $885.98 million.

For the fiscal year, Salesforce guided for a GAAP net loss per share of $1.22 to $1.18 and non-GAAP earnings per share of $1.93 and $1.97. Analysts currently expect the company to earn $1.95 per share for the fiscal year.

Revenue is expected to be between $3.82 billion and $3.87 billion, higher than the company's previous guidance of $3.80 billion to $3.85 billion. Analysts currently have consensus revenue estimates of $3.85 billion for Salesforce for fiscal 2014.

Posted-In: Earnings News Guidance After-Hours Center Movers Tech Best of Benzinga

 

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