Salesforce.com Inc. made a big profit in the first quarter with the participation of Slack Technologies Inc., but in after-hours trading on Tuesday, the stock price plummeted at the end of the year.
Third-quarter sales were reported to be $ 6.86 billion, up from $ 5.42 billion in the year-ago quarter to $ 468 million, or 47 cents per share. After considering stock-based compensation and other implications, the cloud software company reported revenue of $ 1.27 per share. That’s a decrease from $ 1.72 per share, adjusted for the year-ago quarter, but well above expectations.
According to FactSet, analysts expect an average adjusted earnings of 92 cents per share for $ 6.8 billion in sales.
Salesforce forecast adjusted earnings of $ 72 to $ 73 per share for revenue of $ 7.22 billion to $ 7.23 billion in the fourth quarter. According to FactSet, analysts expected an average revenue of $ 7.24 billion and revenue of 82 cents per share.
Salesforce, like Salesforce, has raised expectations for the whole year. First quarter When Second quarter Report; Management forecasts revenue of $ 26.25 billion to $ 26.35 billion three months ago and revenue per share of $ 4.36 to $ 4.38, followed by full-year revenue of $ 26.39 billion to $ 26.4 billion. Dollar, adjusted revenue is expected to be between $ 4.68 and $ 4.69 per share.
Salesforce’s share price fell more than 5% in after-hours trading shortly after the results were announced, closing 3.9% to $ 285.25.
Salesforce is closed Huge acquisition of workplace communication software Slack Late July, just before the third quarter begins in August. Later, at its annual Dreamforce meeting in September, the customer relationship management software company announced plans to focus on Slack and integrate Slack with other major acquisitions, including: MuleSoft When Tableau, And various industries focused on a particular industry.
“Salesforce predicts Slack’s key land and expansion runways, but the young platform has the added benefit of a’army’that is free to sell its products,” Monness, Crespi, said. Hardt & Co. Analyst Brian J. White wrote in the earnings preview while maintaining a purchase valuation and a $ 328 price target.
Salesforce didn’t announce Slack’s quarterly results in its release on Tuesday, but Chief Financial Officer Amy Weaver said, “Slack is once again in a good quarter, with Slack representing Slack in its biggest deal. I’m happy. ”
Salesforce executive Bret Taylor was deeply involved in the acquisition of Slack. Salesforce also announced on Tuesday that it has shared a position with founder Marc Benioff and has been promoted to the company’s co-chief executive officer. Taylor was previously announced as President and Chief Operating Officer of the company and the new Chairman of the Board of Twitter Inc.
Part of on monday Resignation of the company’s CEO, Jack Dorsey..
“I’m grateful that Mark and the Board have believed in helping Salesforce move on to the next chapter,” Taylor, who is also Vice Chairman of the Salesforce Board, said in a statement. ..
Salesforce previously advertised the old Oracle Corp.
Executive Keith Brock has been appointed co-CEO with Benioff, He left the company in less than two years..
Salesforce is also Williams-Sonoma Inc.
CEO Laura Albert and former United Airlines Holdings Inc.
CEO Oscar Munoz joins the company’s board of directors. Albert’s appointment came into effect soon, but Munos will be seated in early 2022.
Salesforce’s share price rose during the Dreamforce period, but has fallen in recent weeks after hitting a record high in early November. The stock suffered six sessions in a row (the longest in almost two years). Reduced price by 7.7% before breaking Monday run..
Overall, Salesforce’s share has increased by 28.4% so far this year, but the S & P 500 Index is
It increased by 23.9%.
Salesforce revenue wins first quarter on Slack, but forecasts slap inventory
Source link Salesforce revenue wins first quarter on Slack, but forecasts slap inventory