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Cloud enterprise software firm Salesforce.com reported better than expected adjusted fiscal second quarter earnings after the market Wednesday. $CRM hit an all-time high today before the report however lowered 3Q guidance below estimates .


Salesforce

CRM cloud software has been one of the fastest growing tech spaces and Salesforce contues to add tier one customers. Their major competitor is Oracle $ORCL.

salesforce.com, inc. NYSE: CRM Beat Earnings After Close Thursday

 $0.71 Beat $0.47 EPS And $3.28 billion Beat $3.23 billion forecast in revenue. 

Earnings 

  • Salesforce.com net income increased six times to $299 million or $0.39 per share. Excluding special items, earnings per share almost doubled to $0.71 well ahead of analyst views for 47 cents.
  • $CRM reported revenue of $3.28 billion, up 27% from the year-ago period and above predictions of $3.23 billion.

 

salesforce.com, inc. NYSE: CRM

Market Reaction - After hours $149.70 −$5.10 (-3.29%)

Highlights

  • Subscription and support revenues were $3.06 billion, an increase of 28% year-over-year.
  • Professional services and other revenues were $221 million, an increase of 14% year-over-year.
  • Salesforce Platform reporting the highest growth of 54%.
  • Geographically, the Americas, which contributes 71% to the company’s revenue, jumped 25%
  • Europe posted the highest growth of 35% for the quarter.

CRM Earnings Q2 18

Outlook

Salesforce lowered it's third-quarter outlook on adjusted earnings in the range of 49 cents to 50 cents a share. This was below expectations of 53 cents. Salesforce.com revenue guidance is in the range of $3.35 billion to $3.65 billion. The midpoint was above analyst views for $3.35 billion.

For the fiscal year 2019, the company raised its revenue outlook to a range of $13.125 billion to $13.175 billion from the prior estimate of $13.075 billion to $13.125 billion. GAAP EPS is now expected to be in the range of $0.97 to $0.99 and non-GAAP EPS is now predicted to be $2.50 to $2.52.

Source: Saleforce.com, AlphaStreet

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