Salesforce Beats On Earnings, Slightly Raises Full-year Guidance

By Jeremy C. Owens Markets MarketWatch Pulse

Salesforce.com Inc. beat earnings expectations in the fiscal fourth quarter and raised its revenue guidance for the year Tuesday, briefly sending shares near record levels in after-hours trading. The cloud-software giant reported a loss of $51.4 million, or 7 cents a share, on revenue of $2.29 billion in the final quarter of its 2017 fiscal year. After adjusting for stock-based compensation and other effects, Salesforce claimed profit of 28 cents a share. Analysts polled by FactSet expected adjusted earnings of 25 cents a share on sales of $2.28 billion. Salesforce also slightly increased its projection for revenue in the 2018 fiscal year, which began Feb. 1, to a range of $10.15 billion to $10.2 billion from a range of $10.1 billion to $10.15 billion. Salesforce shares neared $84 a share in immediate late trading, more than 3% higher than its closing price of $81.35, but those gains dissipated later in after-hours trading.

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