Salesforce.com stock fell after the market close Wednesday as the provider of customer-relationship management software reported quarterly results that beat estimates but gave an earnings outlook that fell short.
XSalesforce.com (CRM) reported adjusted earnings of 71 cents a share, soundly beating analyst views for 47 cents. It reported revenue of $3.28 billion, up 27% from the year-ago period and above predictions of $3.23 billion.
Salesforce.com shares were down 1.7%, near 152.20 in after-hours trading.
Short On Outlook
The company provided a third-quarter outlook on adjusted earnings in the range of 49 cents to 50 cents a share. That was below expectations of 53 cents.
Salesforce.com provided revenue guidance in the range of $3.35 billion to $3.65 billion. The midpoint was above analyst views for $3.35 billion.
Subscription and support revenues were $3.06 billion, an increase of 28% year-over-year. Professional services and other revenues were $221 million, an increase of 14% year-over-year.
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The post Salesforce.com Stock Down As Earnings Beat But Outlook Misses appeared first on Investor's Business Daily.
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