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Salesforce.com: Fiscal 3Q Earnings Snapshot

November 27, 2018

SAN FRANCISCO (AP) _ Salesforce.com Inc. (CRM) on Tuesday reported fiscal third-quarter earnings of $105 million.

On a per-share basis, the San Francisco-based company said it had profit of 13 cents. Earnings, adjusted for one-time gains and costs, were 61 cents per share.

The results surpassed Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The customer-management software developer posted revenue of $3.39 billion in the period, which also beat Street forecasts. Fifteen analysts surveyed by Zacks expected $3.37 billion.

For the current quarter ending in January, Salesforce.com expects its per-share earnings to range from 54 cents to 55 cents.

The company said it expects revenue in the range of $3.55 billion to $3.56 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $3.52 billion.

Salesforce.com expects full-year earnings in the range of $2.60 to $2.61 per share, with revenue ranging from $13.23 billion to $13.24 billion.

Salesforce.com shares have increased 25 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. In the final minutes of trading on Tuesday, shares hit $127.29, a climb of 19 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRM at https://www.zacks.com/ap/CRM

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