Salesforce is set to report earnings for the quarter ended April 30 — the first earnings report since the company reportedly hired bankers to negotiate a takeover bid.
Here’s what Wall Street expects, according to Yahoo Finance:
- Revenue of $US1.50 billion, up roughly 22% year-over-year
- Non-GAAP EPS of $US0.14
Salesforce never confirmed the potential acquisition report, and nobody has reported who the potential buyer was. Oracle, Microsoft, IBM, SAP, and even Google have all been floated as possible candidates. Equally likely, the company could be considering a partial spin-off, or maybe even going private.
Perhaps we’ll find out today, although analysts at Barclays say that any acquisition process would be in “very early stages” and is “unlikely” happen.
The stock jumped about 12% to an all time high of $US72.82 on the report, and has since settled down around $US70.
Analysts will also be watching today’s report for signs of success in the company’s newer products, particularly its Wave Analytics Cloud, which helps companies analyse business data, and the just-announced Salesforce for HR, which Goldman Sachs believes could help take on Workday and Oracle’s HR suite.