Salesforce shares slide on disappointing earnings and revenue forecast

Salesforce stock fell as much as 4 percent in extended trading on Monday after the cloud software company delivered weaker-than-expected earnings and revenue guidance.For fiscal 2019 and the latest quarter, revenue rose 26 percent, Salesforce said. Full-year revenue reached $13.28 billion.

Subscription and support revenue accounted for $3.38 billion of sales in the quarter, with professional services coming in at $228 million. The stock traded lower on Salesforce's forecast for earnings per share of 60 cents to 61 cents on $3.67 billion to $3.68 in revenue in the fiscal first quarter. Analysts polled by Refinitiv had been looking for guidance of 63 cents in earnings per share, excluding certain items, on $3.70 billion in revenue.

Full-year guidance was in line with estimates. For the entire 2020 fiscal year Salesforce is forecasting $2.74 to $2.76 in earnings per share, excluding certain items, on $15.95 billion to $16.05 billion in revenue. Refinitiv estimates were $2.75 in earnings per share, excluding certain items, and revenue of $15.99 billion.Executives will discuss the results with analysts on a conference call at 5 p.m. Eastern time.

Sales force was a great product three years ago, but their lack of development in the auto business had us move on and cancel last month and change providers.

Real shocking. Maybe less social engineering and more salesforcing.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Salesforce stock falls after earnings and revenue beat
Source: MarketWatch - 🏆 3. / 97 Read more »

Despite disappointing earnings, Domino's is still winning the pizza warsDomino's remains the market leader for quick-service pizza, as Pizza Hut and Papa John's struggle to find their footing and the field grows more crowded. Dominos sucks 👎🏻👎🏻👎🏻👎🏻 I know better pizza. Not dominos yuck!!!! LoL
Source: CNBC - 🏆 12. / 72 Read more »

Fitbit found profit in holiday season, but disappointing outlook clouds earningsChief Executive James Park told MarketWatch that this latest quarter was the first since 2016 in which the company posted an increase in devices sold
Source: MarketWatch - 🏆 3. / 97 Read more »

Tech stocks take a beating after hours on disappointing earnings reportsBox, HP, Square, Fitbit and Elastic are among the technology companies that declined after reporting earnings on Wednesday. Including Cisco ?
Source: CNBC - 🏆 12. / 72 Read more »

J.C. Penney's stock soars after earnings, revenue beats, to close more stores in 2019
Source: MarketWatch - 🏆 3. / 97 Read more »

Papa John's stock rises despite earnings, revenue missPapa John's shares rose in extended trading after the company missed on earnings and revenue. Silly Do NOT buy papa johns! They suck! I haven't had a Papa John's pizza in years. I wouldn't eat that racist's pizza even if it was free. PapaJohns - change your name if Papa is truly gone. If not, enjoy the boycott.
Source: CNBC - 🏆 12. / 72 Read more »

Mylan stock drops 6% as earnings, forecast come in short of profit expectations
Source: MarketWatch - 🏆 3. / 97 Read more »

Home Depot forecasts poor 2019 earnings as U.S. housing momentum slowsHome Depot Inc projected 2019 earnings below Wall Street forecasts on Tuesday, a... That's sounds like rally time! Meanwhile, home builders ETF $XHB up 19% this year. Time for a short? Methinks so. Wonder how many folks are boycotting HD because its owner is a Trump supporter? I am
Source: Reuters - 🏆 2. / 97 Read more »