Salesforce.com Slightly Beats Expectations, Raises Its Forecast

By Jeremy C. OwensMarketWatch Pulse

Salesforce.com Inc. eked out an earnings beat Thursday and raised its revenue forecast for the year, pushing the cloud-software company's stock higher in late trading. The San Francisco firm reported a loss of $852,000, less than a penny a share, on sales of $1.63 billion; after adjustments for stock-based compensation and other factors, Salesforce said profit was 19 cents a share. Analysts expected Salesforce to report a loss of a penny a share on sales of $1.6 billion, with adjusted earnings of 18 cents a share. The company also pushed the top of its guidance range for revenues in the full fiscal year from $6.55 billion to $6.63 billion. Salesforce shares gained more than 2% in immediate late trading after closing with a 5.9% decline in a rough day for Wall Street.

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