Shares of Salesforce.com Inc. rose in the extended session Thursday after the cloud-based customer relationship management company beat Wall Street estimates and raised its outlook for the year.
shares rose 3% after-hours, after falling 1.7% in the regular session to close at $ 225.83.
Revenue rose to $ 5.96 billion from $ 4.87 billion in the quarter last year.
Analysts polled by FactSet had estimated earnings of 88 cents per share on revenue of $ 5.89 billion, based on Salesforce’s forecast of 88 cents to 89 cents per share on revenue of $ 5.89 billion. $ 5.88 billion to $ 5.89 billion in February.
“We had the best first quarter in our company’s history,” Marc Benioff, president and CEO of Salesforce, said in a statement. “We believe our Customer 360 platform is proving to be the most relevant technology for businesses emerging quickly from the pandemic. “
“We are on track to reach $ 50 billion in revenue in FY26,” added Benioff.
Salesforce expects adjusted second quarter profit of 91 cents to 92 cents per share on revenue of $ 6.22 billion to $ 6.23 billion, while analysts had forecast 87 cents per share on a turnover of 6.17 billion dollars.
For fiscal 2022, Salesforce forecasts adjusted earnings of $ 3.79 to $ 3.81 per share on revenue of $ 25.9 billion to $ 26 billion, analysts expecting $ 3.44 per share on a turnover of 25.75 billion USD. Previously, Salesforce had forecast $ 3.39 to $ 3.41 per share on revenue of $ 25.65 billion to $ 25.75 billion.
The outlook for the full year includes approximately $ 500 million in revenue from the company’s $ 27.7 billion acquisition of Slack Technologies Inc.
which he announced at the end of last year. In a late April filing with the Securities and Exchange Commission, the company reiterated that it plans to complete the transaction in its fiscal second quarter, which ends July 31.
Over the past 12 months, Salesforce shares have gained 28%, while the IGV iShares Expanded Tech-Software Sector ETF,
and the S&P 500 SPX Index,
both gained 38%, the Nasdaq COMP composite index,
rose 46%, and the Dow Jones Industrial Average DJIA,
– which added Salesforce as a component last year – is up 35%.