Sunday, June 16, 2024

Salesforce Slips: Results Beat Street, but Guidance Falls Short

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

All Things D: On Thursday, Salesforce.com 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.

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