Salesforce stock climbed Tuesday after January-quarter earnings fell from a year earlier but topped views while revenue beat analyst estimates. The enterprise software maker’s revenue guidance for CRM stock came in above expectations while its profit outlook missed.
Including recently acquired Slack Technologies, Salesforce earnings fell 19% to 84 cents on an adjusted basis. The Slack deal closed in July.
San Francisco-based Salesforce said revenue climbed 26% to $7.33 billion. A year earlier, Salesforce earnings were $1.04 a share, including investment gains, on sales of $5.82 billion.
In addition, CRM stock analysts expected Salesforce to report earnings of 75 cents a share on sales of $7.24 billion.
CRM Stock: April Quarter Guidance Mixed
For the current quarter ending in April, Salesforce’s revenue outlook topped expectations. The software maker expects revenue in a range of $7.37 billion to $7.38 billion vs. estimates of $7.27 billion.
Also, the company forecast earnings in a range of 93 cents to 94 cents per share versus estimates of $1 a share for CRM stock.
Salesforce sells software under a subscription model. Its software helps businesses organize and handle sales operations and customer relationships. The company has expanded into marketing, customer services and e-commerce.
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