Marc Benioff, CEO of Salesforce, participates in a panel at the World Economic Forum in Davos, Switzerland, January 18, 2024.
Stefan Wermuth | Bloomberg | Getty Images
Selling power Shares fell 16% in extended trading Wednesday after the cloud software maker reported weaker-than-expected revenue and issued guidance that fell short of Wall Street expectations.
Here’s how the company performed, compared to the LSEG consensus:
- Earnings: $2.44 per share, adjusted, versus $2.38 per share expected
- Income: $9.13 billion, versus $9.17 billion expected
Salesforce reported adjusted earnings per share of $2.34 to $2.36 for the current quarter, on revenue of $9.2 billion to $9.25 billion. Analysts polled by LSEG expected adjusted earnings per share of $2.40 on revenue of $9.37 billion.
Revenue for the fiscal first quarter, ended April 30, increased 11% from $8.25 billion a year earlier, Salesforce said in a statement. Net income jumped to $1.53 billion, or $1.56 per share, from $199 million, or 20 cents per share a year ago.
Executives will discuss the results with analysts on a conference call starting at 5 p.m. ET.
This is breaking news. Please check again for updates.
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