Friday, May 24, 2024

Salesforce Billings Miss Analysts’ Estimates

Datamation content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

Bloomberg Businessweek: Salesforce.com’s billings rose 29 percent in the third quarter, but that fell short of analysts’ expectations of 33 percent growth. Worries that revenue growth for the CRM leader may be slowing sent the stock price tumbling. “For a stock that’s priced to perfection, priced at 30 times cash flow, this is a disappointment,” said analyst Brad Zelnick with Macquarie Capital USA. “Billings is the leading metric.”

Salesforce.com’s profit for the third quarter will be between 39 and 40 cents per share on revenues between $620 million and $624 million.

Subscribe to Data Insider

Learn the latest news and best practices about data science, big data analytics, artificial intelligence, data security, and more.

Similar articles

Get the Free Newsletter!

Subscribe to Data Insider for top news, trends & analysis

Latest Articles