TECH - Salesforce Stock Dives On Q1 Earnings: Revenue Miss EPS Beat Weak Guidance And More | Benzinga
Salesforce Inc (NYSE:CRM) reported financial results for the first quarter after the market close on Wednesday. Here’s a rundown of the report.
Q1 Earnings: Salesforce reported first-quarter revenue of $9.13 billion, missing the consensus estimate of $9.147 billion. First-quarter revenue was up 11% on a year-over-year basis.
Salesforce has a strong track record of beating analyst estimates. The first-quarter miss is Salesforce’s first top-line miss in more than a decade, according to Benzinga Pro.
The enterprise cloud solutions company reported quarterly adjusted earnings of $2.44 per share, beating analyst estimates of $2.38 per share.
Operating margin came in at 18.7%, and non-GAAP operating margin was ...