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Salesforce.com, inc. (NYSE:CRM) shares are falling despite reporting a fourth-quarter earnings and sales beat.
Salesforce adjusted earnings came in at 70 cents per share, beating estimates by 15 cents. Sales came in at $3.6 billion, beating estimates by $40 million.
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The company issued weak first-quarter earnings and sales guidance and full-year 2020 guidance fell in-line with consensus estimates.
"We had another year of outstanding revenue growth, surpassing $13 billion in revenue faster than any other enterprise software company in history," said Marc Benioff, chairman and co-CEO. "As companies of all sizes turn to Salesforce, we're enabling them to put the customer at the center of their digital transformation through our intelligent Customer 360 platform. I've never been more excited about the opportunity ahead."
Highlights
- Revenue increased 26 percent year over year
- Subscription and support revenues increased 26 percent year over year
- Professional services and other revenues increased 16 percent year over year
Salesforce shares fell 3 percent in the after-hours session, trading at $153.91 at time of publication. The stock dropped 3.6 percent in Monday's regular trading session.
Related Links:
The Street's Reaction To Salesforce's Big Q3 Beat
Salesforce.com's Q4 Report Should Trigger Higher Valuation, Says Bullish Oppenheimer
Photo courtesy of Salesforce.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.