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Salesforce Shares Stumble on Weak Guidance

Stock MarketsMar 04, 2019 04:45PM ET
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Investing.com - Salesforce.com (NYSE:CRM) reported fourth-quarter earnings that beat analysts' expectations on Monday and revenue that topped forecasts, but shares fell on soft guidance.

The company reported earnings per share of 70 cents a share on revenue of $3.6 billion. Analysts polled by Investing.com forecast EPS of 55 cents on revenue of $3.56 billion. Earnings were up 100% from a year ago's earnings of 35 cents. Revenue was up 26.3% from a year ago's $2.85 billion.

Despite such robust results, Salesforce.com shares lost 2.5% after hours to $156.99.

The company offered lower-than-expected guidance for earnings and revenue for the fiscal first quarter, with earnings projected at 60 to 61 cents a share, while revenue is projected at $3.67 billion to $3.68 billion. S&P Capital Insight had been expecting slightly higher numbers on earnings and revenue.

Salesforce.com is a major player in the software-as-a-service business (SaaS), providing tools for companies to track their sales and marketing results. Revenue has been growing steadily at 26% or so annually since 2014, according to S&P Capital Insight.

At the close today shares were up 15.6% on the year.

Salesforce Shares Stumble on Weak Guidance
 

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