Sunday, June 16, 2024

Salesforce Slips: Results Beat Street, but Guidance Falls Short

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All Things D: On Thursday, announced that it brought in $732 million in revenue in the second quarter, a 34 percent year-over-year increase. It earned 42 cents per share, topping the Wall Street estimates of 39 cents per share. And for the upcoming third quarter, the company expects revenue of $732 million, beating the estimates of $728.3 million.

Despite all that good news, the company’s stock price took a hit in after-hours trading. Why? Salesforce’s expected earnings per share for the third quarter were 31 cents to 32 cents a share, which didn’t meet analysts’ expectations of 34 cents a share.

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