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Salesforce (CRM) Tops Q1 Earnings & Revenue Estimates, Ups Full-Year Guidance

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Salesforce (CRM - Free Report) just released its first-quarter fiscal 2019 financial results, posting adjusted earnings of $0.74 per share and revenues of $3.01 billion.

Salesforce is currently a Zacks Rank #1 (Strong Buy), which is subject to change based on today’s results. Shares of Salesforce have climbed 40% over the last year and nearly 6% during the last four weeks. The company’s stock did slip 0.82% on Tuesday to hit $126.91 per share prior to the release of its quarterly earnings results.

Salesforce stock is currently up 2.98% to $130.66 per share in after-hours trading shortly after its earnings report was released.

CRM:

Beat earnings estimates. The company posted adjusted earnings of $0.74 per share, topping the Zacks Consensus Estimate of $0.46 per share. Investors should note that Salesforce’s new ASU 2016-01 accounting standards positively impacted its adjusted quarterly earnings by $0.22 per share.

Beat revenue estimates. The company saw revenue figures of $3.01 billion, topping our consensus estimate of $2.94 billion.

Salesforce revenues jumped roughly 25% from the year-ago period. The company’s subscription and support revenues also surged by 27% to touch $2.81 billion. Meanwhile, Salesforce’s professional services and other revenues popped 4% to hit $196 million.

Looking ahead, Salesforce upped its full-year revenue guidance to between $13.075 billion and $13.125 billion, which comes in well above our current full-year estimates of 12.70 billion. The company also expects its full-year earnings in the range of $2.29 per share and $2.31 per share.

Here’s a graph that looks at CRM’s Price, Consensus and EPS Surprise history:

Salesforce.com Inc Price, Consensus and EPS Surprise

Salesforce.com Inc Price, Consensus and EPS Surprise | Salesforce.com Inc Quote

Salesforce offers a suite of on-demand CRM applications that allow customers to manage and share all of their sales, support, marketing and partner information on-demand.

Check back later for our full analysis on CRM’s earnings report!

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