Salesforce blows past earnings targets and forecasts a stronger-than-expected year (CRM)
Salesforce continued its upward climb in first-quarter earnings on Tuesday with a major beat across the board that sent its stock up in after-hours trading, despite downward trends across Wall Street.
Here's what the company reported:
- Revenue for the first quarter of fiscal 2019 (GAAP): Salesforce reported $3.01 billion, up 25% from the year before. Analysts expected $2.94 billion.
- Earnings per share for the quarter (adjusted): Salesforce reported $0.74. Analysts expected $0.46.
- Operating cash flow for the quarter: Salesforce reported $1.47 billion, up 19% from the year before.
- Revenue guidance for Q2 2019 (GAAP): Salesforce expects $3.22 billion to $3.23 billion. Analysts expected $3.11 billion.
- Earnings per share guidance for Q2 2019 (adjusted): Salesforce expects $0.46 to $0.47. Analysts expected $0.52.
- Revenue guidance for the year (GAAP): Salesforce expects $13.08 billion to $13.13 billion. Analysts expected $12.75 billion.
- Earnings-per-share guidance for the year (adjusted): Salesforce expects $2.29 to $2.31. Analysts expected $2.13.
Salesforce's stock was up roughly 2.5% in after-hours trading.
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