Salesforce.com: Fiscal 1Q Earnings Snapshot
SAN FRANCISCO (AP) _ Salesforce.com Inc. (CRM) on Thursday reported fiscal first-quarter net income of $99 million.
On a per-share basis, the San Francisco-based company said it had net income of 11 cents. Earnings, adjusted for one-time gains and costs, were 70 cents per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The customer-management software developer posted revenue of $4.87 billion in the period, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $4.85 billion.
For the current quarter ending in August, Salesforce.com expects its per-share earnings to range from 66 cents to 67 cents.
The company said it expects revenue in the range of $4.89 billion to $4.9 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $5.03 billion.
Salesforce.com expects full-year earnings in the range of $2.93 to $2.95 per share, with revenue expected to be $20 billion.
Salesforce.com shares have climbed 12% since the beginning of the year, while the Standard & Poor's 500 index has dropped 6%. In the final minutes of trading on Thursday, shares hit $181.45, an increase of 17% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRM at https://www.zacks.com/ap/CRM
