- Gains: $ 1.44 per share, adjusted, compared to 67 cents per share as expected by analysts, according to Refinitiv.
- Returned: $ 5.15 billion, compared to $ 4.90 billion as expected by analysts, according to Refinitiv.
Adjusted earnings were positively influenced by the mark-to-market of the company’s investments, according to a statement.
Overall revenue grew 29% year-over-year in the quarter, which ended July 31, down slightly from a 30% growth a quarter earlier.
Revenue from the core Sales Cloud, which allows salespeople and managers to track activity, totaled $ 1.28 billion, up 13% on an annualized basis. The Service Cloud product for customer support generated $ 1.30 billion in revenue, up about 20%. Last quarter Service Cloud revenue slightly exceeded Sales Cloud revenue. The company’s Platform & Others category, which includes Tableau Salesforce data visualization software acquired last year for $ 14.8 billion, rose to $ 1.51 billion, up nearly 66 billion dollars. %.
During the quarter, Salesforce announced the introduction of Work.com tools to help organizations get back to work after the onset of the coronavirus pandemic, which has resulted in the closure of offices around the world.
Salesforce’s current remaining performance obligation, a measure of future contracted revenue that the company says will be recognized as revenue over the next 12 months, totaled $ 15.20 billion, above estimate. FactSet consensus of $ 14.09 billion.
As for the forecast, Salesforce called 73 cents to 74 cents in adjusted earnings per share on $ 5.24 billion to $ 5.25 billion in revenue for the fiscal third quarter. Analysts polled by Refinitiv expected 77 cents of adjusted earnings per share on $ 5.01 billion in revenue.
For the full year 2021, Salesforce now has adjusted earnings per share of $ 3.72 to $ 3.74 and revenue of $ 20.70 to 20.80 billion. The consensus among analysts polled by Refinitiv was $ 2.96 in adjusted earnings per share and $ 20.07 billion in revenue for that period.
Excluding the after-hours move, Salesforce’s stock is up 33% year-to-date, while the S&P 500 is up less than 7%.
Executives will discuss the results with analysts on a conference call starting at 5 p.m. EST.
This is the latest news. Please come back for updates.
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