Salesforce reported better-than-expected earnings and revenue for the latest quarter but issued disappointing guidance.
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Salesforce
issued disappointing guidance on Wednesday, even as earnings and revenue topped estimates for the fiscal second quarter. The stock dropped 4% in extended trading.
Here’s how the company did in comparison with LSEG consensus:
Revenue increased 10% from $9.33 billion a year earlier, according to a statement. Net income rose to $1.89 billion, or $1.96 per share, from $1.43 billion, or $1.47 per share, a year ago.
Salesforce's revenue forecast for the current quarter came in below expectations.
Salesforce said its Agentforce artificial intelligence business is generating over $500 million in annualized revenue.
Salesforce posted accelerating growth and pushed up its long-range revenue target thanks to a recent acquisition.
Salesforce CEO Marc Benioff reviewed his company's quarter in an interview with CNBC's Jim Cramer.
Wall Street's stock price forecasts for Salesforce are all over the place, from 14% downside to upside of more than 70%.
Analysts remained mixed across the board in their long-term stances toward Salesforce.
