Salesforce (CRM, $220.95) tops fiscal Q4 earnings; but disappoints on full-year guidance
Salesforce reported its fiscal fourth quarter earnings that surpassed analysts’ expectations. However, the cloud-based software company’s full-year guidance that is below analysts’ forecasts.
Adjusted earnings for the quarter ending Jan. 31 came in at $1.04 per share, compared to 75 cents per share as expected by analysts, according to Refinitiv.
Revenue rose +20% from the year-ago quarter to $5.82 billion also exceeding the $5.68 billion expected by analysts.
Salesforce expects 88 cents to 89 cents in adjusted earnings per share in the fiscal first quarter on $5.875 billion to $5.885 billion in revenue. Analysts polled by Refinitiv had predicted adjusted earnings of 76 cents per share on $5.72 billion in revenue.
For fiscal 2022, however, the company projected adjusted earnings of between $3.39 and $3.41 a share, below Wall Street estimates of $3.49. It expects revenue in the range of $25.65 billion to $25.75 billion -that includes $600 million in revenue from Slack.
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