Wed, May 31, 2023 1:20 PM
STATS Perform dba Automated Insights
SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Salesforce.com Inc. (CRM) on Wednesday reported fiscal first-quarter profit of $199 million.
On a per-share basis, the San Francisco-based company said it had profit of 20 cents. Earnings, adjusted for one-time gains and costs, were $1.69 per share.
The results beat Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.
The customer-management software developer posted revenue of $8.25 billion in the period, which also beat Street forecasts. Fourteen analysts surveyed by Zacks expected $8.17 billion.
For the current quarter ending in July, Salesforce.com expects its per-share earnings to range from $1.89 to $1.90. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.27.
The company said it expects revenue in the range of $8.51 billion to $8.53 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $8.06 billion.
Salesforce.com expects full-year earnings in the range of $7.41 to $7.43 per share, with revenue ranging from $34.5 billion to $34.7 billion.