Mark Benioff, co-founder and CEO of Salesforce.com Inc., paused during an interview with Bloomberg TV at the World Economic Forum in Davos, Switzerland, on Wednesday, January 18, 2017.
Simon Dawson Bloomberg | Getty Images
Salesforce surpassed analysts’ earnings and revenue forecasts in its fourth-quarter earnings report. Shares jumped in expanded trading.
Here’s how the company did:
- Profits: 84 cents a share adjusted against 74 cents a share, analysts expect, according to Refinitiv.
- income: $ 7.33 billion versus $ 7.24 billion, analysts expect, according to Refinitiv.
Revenue rose 26% in the quarter ended Jan. 31, according to a statement.
For the first quarter, Salesforce demanded revenue of between $ 7.37 billion and $ 7.38 billion. Analysts polled by Refinitiv expected revenue of $ 7.26 billion.
The company’s updated guidelines for fiscal 2023 are revenue from $ 32 billion to $ 32.1 billion. Analysts polled by Refinitiv were looking for $ 31.78 billion in revenue.
During this time, Salesforce promoted Brett Taylor to co-CEO along with Mark Benioff, a billionaire and co-founder of the company. Taylor joined Salesforce in 2016 through the acquisition of Quip’s startup performance software and quickly rose to become chief operating officer.
Before moving after hours, Salesforce has fallen 15% so far this year, down from the S&P 500, which is down about 10%.
Leaders will discuss the results with analysts during a conference call starting at 17:00 ET.
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