Salesforce stock market skins higher after hours on earnings stroke, year-round view
Salesforce.com Inc. stocks advanced in the extended session Tuesday after the customer relationship management software company reported revenue that peaked Wall Street estimates and increased prospects for the year.
Sales Force
CRM, + 3.94%
shares, which had almost fluctuated to loss after hours, were up to 3.2% in the extended session, after a 4% increase to close the regular session of $ 150.92. By comparison, the S&P 500 index is
SPX, + 2.14%
closed 2.1%, Nasdaq Composite Index
COMP, + 2.65%
increased 2.7%, and iShares Expanded Tech Software Sector ETF
IGV, + 3.41%
advanced 3.4% on Tuesday.
On the conversation, Marc Benioff, Salesforce's chairman and co-director, updated the company's long-term revenue forecast to cover the next four years.
"We are well positioned to continue on the track to double our revenues again over the next four years, achieving a $ 26 billion revenue target of $ 28 billion for the 2023 fiscal year," Benioff said. .
The company reported net revenue of NOK 392 million for the first quarter, or 49 cents per share, compared to $ 344 million, or 46 cents per share in the previous period. Adjusted earnings were 93 cents per share.
Of the 37 analysts surveyed by FactSet, the average expectation that Salesforce had an adjusted revenue of 61 cents per share compared to the corrected 74 cents was a share reported in the quarter.
Revenues increased to $ 3.74 billion from $ 3.01 billion in the quarter. Analysts had expected sales of $ 3.69 billion from Salesforce, according to 33 analysts asked by FactSet.
Salesforce forecast earnings of 46 cents to 47 cents per share on revenue of $ 3.94 billion to $ 3.95 billion in the second quarter, and increased revenue outlook of $ 2.88 to $ 2.90 per share on revenue of $ 16.10 billion to $ 16.25 billion for
Analysts expect a revenue of 65 cents in sales of $ 3.94 billion in the second quarter, and $ 2.67 for revenue of $ 16.14 billion for the year.
Of the 43 analysts covering Salesforce, 40 have buy or overweight, three have team scores and no one has sales or underweight, with an average price target of $ 182.59, according to FactSet.
