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Salesforce financial results announced

25 August 2022 By GO Markets

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Salesforce financial results announced

Salesforce.com Inc. (CRM) reported its latest financial results for its fiscal second quarter on Wednesday.

World’s leading customer relationship management (CRM) company reported revenue of $7.72 billion (up 22% year-over-year) vs. $7.692 billion expected.

Earnings per share also topped analyst estimates at $1.19 per share for the quarter vs. $1.03 per share expected.

”We had another strong quarter, with revenue of $7.7B growing 22% year-over-year and 26% in constant currency, showing yet again the durability of our business model,”  Marc Benioff, Chair and Co-CEO of Salesforce said following the latest results.

”And, we’re thrilled to initiate our first-ever share repurchase program to continue to deliver incredible value to our shareholders on our path to $50 billion in revenue in FY26,” Benioff added.

”Our results demonstrate the strength and diversity of our product portfolio across regions, industries and segments,” said Bret Taylor, Co-CEO of Salesforce.

”In this more measured buying environment, our Customer 360 portfolio is even more strategic and relevant as our customers focus on productivity, efficiency and time to value,” Taylor concluded.

The company expects revenue of $7.82 to $7.83 billion for the fiscal third quarter

Salesforce.com Inc. (CRM) chart

 

 

The stock was up by 2.28% at the end of Wednesday’s session at $180.19 a share. The stock fell by around 5% in the after-hours due to future outlook.

Here is how the stock has performed in the past year:

  • 1 month -0.16%
  • 3 months +12.75%
  • Year-to-date -29.17%
  • 1 year -30.99%

Salesforce price targets

  • Citigroup $189
  • BMO Capital $223
  • Mizuho $245
  • Morgan Stanley $273
  • Piper Sandler $220
  • Deutsche Bank $260
  • JP Morgan $275
  • Barclays $218
  • Wells Fargo $235

Salesforce.com Inc. is the 58th largest company in the world with a market cap of $179.10 billion.

You can trade Salesforce.com Inc. (CRM) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: Salesforce.com Inc., TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap

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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice.