Categories Earnings, LATEST, Technology

Salesforce tops estimates; raises full year revenue guidance

Cloud computing company Salesforce.com (CRM) posted its first quarter fiscal 2019 results after the closing bell today. The company topped the revenue consensus estimates reaching $3.01 billion, surging 25% year-over-year.

On a reported basis, the company earned $344 million, while on a per share basis earnings came in at $0.46. Excluding special items, earnings per share stood at $0.74.

Salesforce raised its revenue guidance for FY19 to a range of $13.075 billion to $13.125 billion, while for Q2 2019, revenue is expected to come in the range of $3.22 billion to $3.23 billion. The current quarter GAAP earnings per share is expected to be in the negative territory of ($0.09) – ($0.08) and for the year it is expected to come in the range of $0.49 to $0.51. On an adjusted basis, the company expects earnings per share to be in the range of $0.46 to $0.47.

Salesforce.com first quarter 2019 earnings
Salesforce.com Q1 2019 Earnings Infographic

Salesforce delivered more than $3 billion in revenue in the first quarter, surpassing a $12 billion annual revenue run rate. “Our relentless focus on customer success is yielding incredible results, including delivering nearly two billion AI predictions per day with Einstein,” said Marc Benioff, CEO.

Recently, the company had acquired MuleSoft, its biggest acquisition ever, which bolstered to report revenue surpassing estimates. However, the San Francisco, California-based cloud giant saw its operating expenses jump 17.5% to $2 billion.

Salesforce’s all cloud service offerings contributed to its earnings, growing double digits, with Marketing and Commerce Cloud reporting the highest growth of 41%, followed by platform revenue and service cloud. Subscription and support revenue saw a jump of 27%, surpassing projections.

Geographically Americas, which contributes 70% to the company’s revenue, jumped 19%, with Europe posting the highest growth of 48% for the quarter.

Salesforce stock has seen a surge of 42% in the last one year, while it shot up 23.3% since the beginning of this year. After the earnings report, the stock gained a marginal 1%, while jumped about 4.5% after hours trading.

Most Popular

Key highlights from Hormel Foods’ (HRL) Q1 2024 earnings results

Hormel Foods Corporation (NYSE: HRL) reported first quarter 2024 earnings results today. Net sales were $3 billion, up 1% from the same period last year. Net earnings attributable to Hormel

HP Earnings: All you need to know about HP Inc.’s Q1 2024 earnings results

HP Inc. (NYSE: HPQ) reported first quarter 2024 earnings results today. Net revenue of $13.2 billion was down 4.4% from the same period a year ago. GAAP net earnings were

CRM Earnings: Salesforce Q4 2024 profit and revenue beat estimates

Customer relationship management platform Salesforce, Inc. (NYSE: CRM) reported higher earnings and revenues for the fourth quarter of 2024. The results also topped expectations. Fourth-quarter profit, excluding non-recurring items, increased

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top