Salesforce soars after improving outlook for full year, shaking pandemic (NYSE: CRM)

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After lowering its outlook for the full year in the last quarter, Salesforce.com (NYSE: CRM) increases its forecast to $ 20.7-20.8B in revenue (was: around $ 20B; consensus: $ 20.06B) and adjusted EPS from $ 3.72 to $ 3.74 (was: 2.93 $ 2.95; consensus: $ 2.96).

Salesforce shares are up 11.6% AH.

Q2 results beat on the upper and lower lines with 28% year-on-year revenue growth to $ 5.1 billion. Subscription and support sales increased 29% and professional services by 23%.

Billing exceeded consensus with $ 4.63 billion versus $ 4.05 billion.

Cash from operations totaled $ 430 million (-2%) and Salesforce ended the quarter with $ 9.28 billion in cash and cash equivalents.

“It’s humbling to have experienced one of the best quarters in Salesforce history in a context of multiple crises seriously affecting our communities around the world,” said CEO Marc Benioff.

For the third quarter, Salesforce forecasts revenue of $ 5.24 billion to $ 5.25 billion, up about 16% year-on-year, and EPS of $ 0.73 to $ 0.74. Consensus estimates reached $ 5 billion and $ 0.77 respectively.

The call for results begins at 5:00 p.m. with a webcast here.

Press release.

Previously: Salesforce.com EPS beats $ 0.77, on revenue (Aug 25, 2020)



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