Salesforce co-CEO Marc Benioff speaks at the grand opening of the Salesforce Tower in San Francisco in May 2018.
David Paul Morris | Bloomberg | Getty Images
Salesforce shares fell 4% in the extended trading session on Thursday after the enterprise software industry issued earnings that exceeded analysts’ estimates, but Salesforce fell short of its full-year earnings forecast because of the implications of the affecting communication app for the team. Slap.
Here’s how the business fared:
- Earnings: According to Refinitiv, $ 1.04 per share was adjusted, compared to 75 cents per share as expected by analysts.
- Income: $ 5.82 billion, compared to $ 5.68 billion, as expected by analysts, according to Refinitiv.
The company showed 20% year-on-year revenue in the fourth quarter of the company’s 2021 financial year, according to a statement. In the previous quarter, turnover grew by 20%.
While revenue management for the full financial year 2022 exceeded estimates, revenue management was soft.
For the full year, which would include the impact of Slack, the company demanded $ 3.39 to $ 3.41 in adjusted earnings per share at $ 25.65 billion to $ 25.75 billion in revenue. That includes $ 600 million in revenue from Slack. Analysts surveyed by Refinitiv expected $ 3.49 in adjusted earnings per share and $ 25.42 billion in revenue.
Salesforce adjusted its earnings per share in the fiscal first quarter from 88 cents to 89 cents in the fiscal first quarter to $ 5.875 billion to $ 5.885 billion in revenue. Analysts surveyed by Refinitiv expected adjusted earnings of 76 cents per share at $ 5.72 billion in revenue.
In the fiscal fourth quarter, Salesforce generated $ 1.36 billion in subscription and support revenue from its key Sales Cloud product for sales tracking, which represents an annual growth rate of approximately 11%, compared to 12% in the previous term. Acquisitions have helped Salesforce expand over the years, and the Tableau data visualization software that Salesforce acquired in 2019 contributed $ 1.81 billion in revenue and support revenue from Platform and other products, up 26% increased and accelerated from 24% in the previous quarter.
In December, Salesforce announced plans to acquire Slack for more than $ 27 billion. Salesforce said it expects the deal to end late in the quarter ending July 31. Also in the quarter, Salesforce announced Vaccine Cloud, a tool that government agencies and companies can use to manage the deployment of coronavirus vaccines.
At the end of the quarter, Salesforce had its current outstanding performance liabilities of $ 18 billion, up 20%. Analysts surveyed by FactSet expected 16% growth and the growth rate was 20% in the previous quarter.
Salesforce shares have risen 4% since the start of 2021, while the S&P 500 index has risen about 2%.
Managers will hold a conference with analysts to discuss the results from 5pm Eastern time.
This is news. Please come and check for updates.
LOOK: Trusted technology needed to distribute vaccines: Salesforce