Salesforce Inc (CRM) said after close Wednesday that it earned $1.69 per share in quarter one 2024. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $8.2 billion, beating estimates by $67 million.
In the same quarter a year ago, the company earned $0.98 per share on revenue of $7.4 billion.
The stock is down 5.05% to $213.04 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 70. Meanwhile, the average Wall Street analyst rated the stock a Buy.
Salesforce Inc provides enterprise cloud computing solutions. The company offers customer relationship management (CRM) technology that brings companies and customers together. Its Customer 360 platform helps the group to deliver a single source of truth, connecting customer data across systems, apps, and devices to help companies sell, service, market, and conduct commerce. It also offers Service Cloud for customer support, Marketing Cloud for digital marketing campaigns, Commerce Cloud as an e-commerce engine, the Salesforce Platform, which allows enterprises to build applications, and other solutions, such as MuleSoft for data integration.
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Salesforce Inc Down 5.05% To $213.04 After Earnings Beat
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