Software conglomerate Salesforce.com published its quarterly figures after the trading day on Tuesday. The company clearly exceeded expectations in the first quarter of the current fiscal. In addition, the earnings forecast for the full year was raised. The stock responds with a significant increase.
Regarding guidance, Salesforce said it expects second-quarter earnings per share of $1.01 to $1.02 and revenue of $7.69 to $7.70 billion on an adjusted basis. Analysts polled by Refinitiv had expected $1.14 and $7.77 billion, respectively.
While Salesforce lowered its full-year 2023 revenue guidance, it also upgraded its earnings guidance. It now has adjusted earnings per share of $4.74 to $4.76 and revenue of $31.7 billion to $31.8 billion. Analysts polled by Refinitiv had expected $4.65 and $32.06 billion, respectively. Salesforce previously forecast adjusted earnings of $4.62 to $4.64 per share on sales of $32.0 to $32.1 billion.
As expected, the numbers were a positive surprise. The next shareholder has a new valuation.
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