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Salesforce.com: Fiscal 1Q Earnings Snapshot

June 4, 2019

SAN FRANCISCO (AP) _ Salesforce.com Inc. (CRM) on Tuesday reported fiscal first-quarter earnings of $392 million.

On a per-share basis, the San Francisco-based company said it had net income of 49 cents. Earnings, adjusted for one-time gains and costs, came to 93 cents per share.

The results exceeded Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The customer-management software developer posted revenue of $3.74 billion in the period, which also beat Street forecasts. Thirteen analysts surveyed by Zacks expected $3.68 billion.

For the current quarter ending in August, Salesforce.com expects its per-share earnings to range from 46 cents to 47 cents.

The company said it expects revenue in the range of $3.94 billion to $3.95 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $3.93 billion.

Salesforce.com expects full-year earnings in the range of $2.88 to $2.90 per share, with revenue ranging from $16.1 billion to $16.25 billion.

Salesforce.com shares have climbed nearly 10% since the beginning of the year, while the Standard & Poor’s 500 index has risen 12%. In the final minutes of trading on Tuesday, shares hit $150.21, a climb of 13% 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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