Salesforce Inc (NYSE: CRM) shares are trading higher Thursday after the company reported better-than-expected quarterly results and issued strong guidance. Several analysts maintained positive ratings and lifted price targets on the stock following the print.
What Happened: Salesforce said second-quarter revenue increased 11% year-over-year to $8.6 billion, which beat the consensus estimate of $8.52 billion, according to Benzinga Pro. The company reported quarterly earnings of $2.12 per share, which beat analyst estimates of 1.90 per share.
Cash flow from operations was up 142% year-over-year and free cash flow was up 379%. Operating margin came in at 17.2% for the second quarter.
"Based on our performance and what we see in the back ...