Salesforce Earnings Guidance Light, Stock Falls; Zoom Stake Boosts Profit
Summary
Salesforce.com (CRM) earnings for the first quarter edged by estimates as the company recorded a huge investment gain from its stake in Zoom Video Communications (ZM). San Francisco-based Salesforce said adjusted earnings were 70 cents a share, including a 16-cent investment gain, down 25% from a year earlier. Analysts expected Salesforce to report earnings of 69 cents on sales of $4.85 billion for the period ended April 30. The enterprise software maker said current remaining performance obligations, or CRPO bookings, rose 23% to $14.5 billion. Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
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industries
Fintech & Banking
applications
Collaboration & Communication
AskAI Classifications
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SaaS
CRM Software
Enterprise Software
Linked Companies
Salesforce
$1B+