Salesforce can exceed analyst expectations with its quarterly figures.
(Photo: Reuters)
The SAP competitor Salesforce closed the past quarter with a significant increase in sales. Revenue rose eleven percent to $8.25 billion (€7.72 billion), as Salesforce announced after the US stock market closed on Wednesday. Bottom line, profits for the first fiscal quarter ended April rose to $199 million from $28 million a year earlier.
Salesforce beat analyst expectations for revenue and adjusted earnings per share. At the same time, the company raised its earnings forecast for the current financial year and confirmed sales expectations of between 34.5 and 34.7 billion dollars. The stock fell by around 2 percent in after-hours trading. Expenses were higher than analysts had expected in the past quarter.
Salesforce specializes in company software for customer management and also offers the office communication service Slack, which has been purchased.
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