Salesforce reported fiscal second-quarter earnings and provided guidance that surpassed analysts’ estimates.
The cloud company’s adjusted earnings for the quarter came in at $1.48 per share, compared to 92 cents per share expected by analysts polled by Refinitiv.
Revenue rose +23% from the year-ago quarter to $6.34 billion, also beating the $6.24 billion expected by analysts, according to Refinitiv.
Revenue from the Platform and Other unit, which includes the MuleSoft integration software and Tableau data-analytics software, rose +24%.
The Service Cloud segment grew +23%.
Salesforce’s core Sales Cloud product revenue was up +15%.
For the fiscal third-quarter, Salesforce is expecting 91 to 92 cents in adjusted earnings per share on $6.78 billion to $6.79 billion in revenue. Analysts polled by Refinitiv had expected 82 cents in adjusted earnings per share and $6.66 billion in revenue.
Looking further ahead, Salesforce raised its full fiscal-year 2022 earnings guidance to $4.36 to $4.38 and $26.2 billion to $26.3 billion in revenue. Analysts polled by Refinitiv predicted $3.82 in adjusted earnings per share and $26.01 billion in revenue.
Salesforce revenue forecast includes $530 million from Slack, which is $30 million more than Salesforce had predicted a quarter earlier.
The Moving Average Convergence Divergence (MACD) for CRM turned positive on July 22, 2024. Looking at past instances where CRM's MACD turned positive, the stock continued to rise in of 45 cases over the following month. The odds of a continued upward trend are .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a developer of on-demand customer relationship management software technology
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