Salesforce.com: Fiscal Q1 Earnings Snapshot
Posted May 27, 2021 05:26:07 PM.
Last Updated May 27, 2021 05:40:09 PM.
SAN FRANCISCO (AP) _ Salesforce.com Inc. (CRM) on Thursday reported fiscal first-quarter net income of $469 million.
On a per-share basis, the San Francisco-based company said it had profit of 50 cents. Earnings, adjusted for stock option expense and amortization costs, came to $1.21 per share.
The results exceeded Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The customer-management software developer posted revenue of $5.96 billion in the period, also beating Street forecasts. Thirteen analysts surveyed by Zacks expected $5.88 billion.
For the current quarter ending in August, Salesforce.com expects its per-share earnings to range from 91 cents to 92 cents.
The company said it expects revenue in the range of $6.22 billion to $6.23 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $6.14 billion.
Salesforce.com expects full-year earnings in the range of $3.79 to $3.81 per share, with revenue ranging from $25.9 billion to $26 billion.
Salesforce.com shares have climbed 1.5% since the beginning of the year, while the S&P’s 500 index has increased 12%. In the final minutes of trading on Thursday, shares hit $225.83, a climb of 28% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRM at https://www.zacks.com/ap/CRM
The Associated Press
