Salesforce’s second quarter revenues were up 26% year-over-year Tuesday. The company hit $ 2.56 billion, beating analyst expectations of $ 2.51 billion.
The company reported:
- Revenues — $ 2.56 billion. Analysts had forecast $ 2.51 billion.
- Earnings per share (adjusted) — $ 0.33 per share. Wall Street was expecting $ 0.32 a share.
- Subscription and support revenues — $ 2.37 billion, up 26% year-over-year.
- Professional services and other revenues — $ 193 million, up 28% year-over-year.
- Estimated revenues for Q3 — $ 2.64 billion to $ 2.65 billion. Analysts had previously projected revenues of $ 2.61 billion for the period.
- Estimated earnings per share for Q3 (adjusted) — $ 0.36 a share to $ 0.37 a share. Analysts had previously forecast earnings of $ 0.36 for the quarter.
- Estimated revenues for fiscal year 2018 — $ 10.35 billion to $ 10.40 billion. Analysts had previously expected revenues of $ 10.28 billion for the year.
- Estimated earnings per share for fiscal year 2018 (adjusted) — $ 1.29 per share to $ 1.31 earnings per share. Wall Street had previously forecast earnings of $ 1.30 a share.
Despite the beat on the top and bottom lines and the somewhat better-than-expected third-quarter forecast, Salesforce’s stock was off $ 1.75, or nearly 2%, to $ 91.20 a share in recent after-hours trading.
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