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Salesforce is sliding despite its earnings beat

Tina Wadhwa
Marc Benioff, chairman and CEO of Salesforce, speaks at the WSJD Live conference in Laguna Beach, California, U.S., October 26, 2016.

REUTERS/Mike Blake

(Marc Benioff, chairman and CEO of Salesforce, speaks at the WSJD Live conference in Laguna BeachThomson Reuters)
Salesforce reports fourth-quarter earnings that beat Wall Street estimates, but the stock is falling. Salesforce is down 2.75% at $79.11 a share after Tuesday's market close. 

Here are the numbers:

  • Q4 revenue climbed 27% year-over-year to $2.29 billion  ($2.28 billion expected)
  • 2016 revenue jumped 26% YoY to $8.39 billion
  • Q4 EPS of $0.28 ($0.25 expected)

With regards to fiscal year 2018, Keith Block, vice chairman, president and COO of Salesforce, said in a press release that Salesforce expects to "deliver more than $10 billion in revenue--reaching that milestone faster than any enterprise software company in history. No other software company of our size and scale is growing at this rate.” 

For its full-year 2018 guidance, the company projects revenue of $10.15 billion to $10.20 billion, an increase of 21%-22% YoY. 

 

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