Salesforce.com: Fiscal Q2 Earnings Snapshot

SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Salesforce.com Inc. (CRM) on Wednesday reported fiscal second-quarter profit of $1.27 billion.

The San Francisco-based company said it had net income of $1.28 per share. Earnings, adjusted for one-time gains and costs, were $2.12 per share.

The results surpassed Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of $1.90 per share.

The customer-management software developer posted revenue of $8.6 billion in the period, also topping Street forecasts. Fifteen analysts surveyed by Zacks expected $8.52 billion.

For the current quarter ending in October, Salesforce.com expects its per-share earnings to range from $2.05 to $2.06. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.27.

The company said it expects revenue in the range of $8.7 billion to $8.72 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $8.06 billion.

Salesforce.com expects full-year earnings in the range of $8.04 to $8.06 per share, with revenue ranging from $34.7 billion to $34.8 billion.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRM at https://www.zacks.com/ap/CRM

Source