WORK - Salesforce stock pops after 'best first quarter' in company history strong guidance

May, 27 2021 04:54 PM Slack Technologies Inc. Class A

Salesforce.com (CRM) shares pop 5.4% after topping Q1 estimates with $5.96B in revenue (up 22% Y/Y) and EPS of $1.21, a strong $0.33 ahead of consensus.Current remaining performance obligations totaled $17.8B, up 23%.For Q2, Salesforce forecasts revenue of $6.22-6.23B (consensus: $6.16B) and EPS of $0.91-0.92 (consensus: $0.86).“We had the best first quarter in our company’s history,” says CEO Marc Benioff. “We believe our Customer 360 platform is proving to be the most relevant technology for companies accelerating out of the pandemic. With incredible momentum throughout our core business, we’re raising our revenue guidance for this fiscal year by $250 million to approximately $26 billion and non-GAAP operating margin to 18 percent. We’re on our path to reach $50 billion in revenue in FY26.”For FY22, the company also expects revenue of $25.9-26B (consensus: $25.75B) and EPS of $3.79-3.81 (consensus: $3.45).The company expects its Slack (WORK) acquisition to close later in fiscal Q2.Earnings press release.

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Salesforce stock pops after 'best first quarter' in company history, strong guidance

Company Name:	Slack Technologies Inc. Class A
Stock Symbol:	WORK
Market:	NYSE
Website:	slack.com

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