Salesforce (NYSE: CRM) reported impressive earnings and revenue growth for the second quarter of 2021, aided by a spike in the cloud business. The results alto topped expectations, driving the company’s stock higher on Tuesday evening.
Earnings, excluding special items, moved up to $1.44 per share from $0.66 per share in the second quarter of 2020 and exceeded the forecast. Net income was $2.63 billion or $2.85 per share, compared to $91 million or $0.11 per share last year.
Driving the bottom-line growth, revenues advanced 29% year-over-year to $5.2 billion during the three-month period. The outcome also beat estimates.
Salesforce’s stock gained 12% during Tuesday’s after-hours session, immediately after the earnings report. The shares closed the regular session slightly higher.
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With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard