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Salesforce Falls Despite Q3 Beat

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Salesforce Falls Despite Q3 Beat

Salesforce.com, inc. (NYSE: CRM) shares are down 1 percent despite reporting a third quarter earnings and sales beat.

The San Francisco-based cloud computing company reported Q3 adjusted EPS of 39 cents, beating estimates by 2 cents. Revenues came in at $2.68 billion, topping estimates by $30 million. Still, shares are down after fourth quarter guidance fell short of estimates.

“Salesforce delivered a record third quarter and we're on a path to exceed $20 billion faster than any enterprise software company in history," said Marc Benioff, chairman and CEO at Salesforce. "With this phenomenal growth, we are building a company for the ages, creating value for our trailblazers — our customers, employees, investors and communities — while helping make the world a better place for decades to come.”

Q3 Highlights

  • Revenues up 25 percent year-over-year
  • Q4 Revenue guidance projected at $2.801 to $2.811 billion
  • FY18 Revenue Guidance of $10.43 billion to $10.44 billion
  • FY19 Revenue Guidance projected to be $12.45 billion to $12.50 billion, an increase of 19-20 percent year-over-year

At last check, shares of salesforce were trading down 1 percent to $107.60.

Related Links:

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Salesforce Partners With Google: Everything You Should Know 

Posted-In: Marc Benioff SalesforceEarnings News Best of Benzinga

 

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