Salesforce (CRM) shares are sinking 7% in premarket trading Thursday, a day after CEO Marc Benioff called the customer-relationship software firm’s soft current-quarter outlook “appropriately conservative.”
After the bell Wednesday, Salesforce reported second-quarter adjusted earnings per share (EPS) of $2.91 on revenue that increased 10% year-over-year to $10.24 billion. Analysts polled by Visible Alpha were looking for $2.78 and $10.14 billion, respectively.
However, the San Francisco-based firm forecast third-quarter GAAP EPS between $1.60 and $1.62 and revenue between $10.24 billion and $10.29 billion, and analysts were expecting $1.83 and $10.29 billion, respectively. Its adjusted EPS forecast of $2.84 to $2.86 came in a tick above estimates.
“Our results are absolutely fantastic and our guidance is also, you know, is always appropriately conservative,” Benioff told CNBC‘s Jim Cramer Wednesday.
Salesforce shares entered Thursday 23% lower this year.
Read the original article on Investopedia
Terms and Privacy Policy
Yahoo News – Latest News & Headlines
Read the full article .
