Marc Benioff, co-founder and CEO of Salesforce, speaks at a panel session at the World Economic Forum in Davos, Switzerland, on January 18, 2024.
Stefan Wermuth | Bloomberg | Getty Images
Salesforce Shares fell as much as 6% in extended trading Wednesday after the business software maker released a soft revenue forecast for the new fiscal year. It will begin paying a dividend at 40 cents per share.
Here’s how the company performed, compared to LSEG estimates:
- Earning per share: $2.29, adjusted, compared to $2.26 expected
- Income: $9.29 billion, versus the $9.22 billion expected
Salesforce revenue grew 10.8% year-over-year in the quarter ended Jan. 31, according to a release. Professional services revenue fell 9%. The company reported net income of $1.45 billion, or $1.47 per share, compared to a loss of $98 million, or 10 cents per share.
During the quarter, Salesforce said it would acquire software startup Spiff with sales commissions under undisclosed terms and begin selling its products on the marketplace. Amazon Web services market.
Salesforce called for adjusted fiscal first-quarter earnings of $2.37 to $2.39 per share, on revenue of $9.12 to $9.17 billion. Analysts polled by LSEG expected $2.20 in adjusted earnings per share on revenue of $9.15 billion.
For the new fiscal year 2025, Salesforce said it expects adjusted earnings of $9.68 to $9.76 per share and revenue of $37.7 to $38.0 billion. The revenue figure implies growth of 8.6% in the mid-range. Analysts expected $9.57 per share, along with $38.62 billion in revenue.
Excluding the after-hours move, Salesforce shares are up about 14% this year, while the S&P 500 index has gained 6% in the same period.
Executives will discuss the results with analysts on a conference call starting at 5:00 pm ET.
This is breaking news. Please check back for updates.
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