Earnings Déjà Vu: Salesforce Beats Estimates In Fiscal Q3, Raises Outlook Yet Again

Posted by Ryan Ropero on Nov 21, 2017 1:00:00 PM

Salesforce shares continued their upward march after Marc Benioff’s business software company reported another earnings and revenue beat for its fiscal third quarter on Tuesday. Salesforce reported non-GAAP earnings of $0.39, ahead of analyst consensus of $0.37 as polled by Thomson Reuters, and revenue of $2.68 billion, ahead of expectations of $2.65 billion.

Shares of Salesforce gave back much of their earlier gains for the day in after-hours trading, down about 1.36 to $107.31 as of 4:30 pm ET, after gaining $1.43 or 1.33% in Tuesday’s trading. The company’s stock is trading up 44% over the past year.

Salesforce continued a streak of four quarters of raised revenue, five years of improved operating margins and a streak of 10 quarters of earnings beats. The last time the company didn’t exceed Wall Street estimates? February 2015, when it matched consensus.

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Topics: Salesforce