Salesforce.com Shares Decline On Weak Outlook

Salesforce.com Inc. shares declined in the extended session Wednesday after the business cloud-computing company's outlook fell short of Wall Street estimates. Salesforce.com shares fell 4.4% to $58.30 on moderate volume. The company forecast adjusted fourth-quarter earnings of 13 cents to 14 cents a share on revenue of about $1.44 billion, and revenue of $6.45 billion to $6.5 billion for fiscal 2016. Analysts surveyed by FactSet estimate fourth-quarter earnings of 15 cents a share on revenue of $1.45 billion, and $6.66 billion in revenue for fiscal 2016. The company reported adjusted third-quarter earnings of 14 cents a share on revenue of $1.38 billion. Analysts expected 13 cents a share on revenue of $1.37 billion.