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Salesforce Earnings Top Estimates. The Stock Is Rallying.

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Salesforce posted better-than-expected earnings and revenue, and inched up full-year guidance

Salesforce shares are trading sharply higher after the cloud-based enterprise software giant posted better-than-expected financial results.For the fiscal second quarter ended July 31, Salesforce posted revenue of $8.6 billion, up 11% from a year ago, ahead of both the company’s guidance range of $8.51 billion to $8.53 billion and Street consensus at $8.53 billion.

For the January 2024 fiscal year, the company now sees revenue of $34.7 billion to $34.8 billion, with adjusted profits of $8.04 billion to $8.06 billion, and GAAP earnings of $3.50 to $3.52 a share. The company had previously projected fiscal year 2024 revenue of $34.5 billion to $34.7 billion. Street estimates had called for revenue of $34.7 billion, with adjusted profits of $7.42 a share.

 

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