WORK - Why Salesforce Stock Dipped on Friday
Shares of salesforce.com (NYSE: CRM) have dipped today, down by 5% as of 3:20 p.m. EST, after the company reported fiscal fourth-quarter earnings. The results topped expectations, but Salesforce's profit forecast for next fiscal year disappointed investors. The company remains optimistic about its pending acquisition of Slack (NYSE: WORK) .
Revenue in the fiscal fourth quarter came in at $5.82 billion, beating the Street's expectation of $5.68 billion in sales. That resulted in adjusted earnings per share of $1.04, also crushing the consensus estimate of $0.75 per share in adjusted profits. The customer relationship management (CRM) technology leader now has remaining performance obligation (RPO), which represents business that has already been contracted, of $36.1 billion.
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Why Salesforce Stock Dipped on Friday