Salesforce blows past earnings targets and forecasts a stronger-than-expected year

Justin Sullivan/GettySalesforce CEO Marc Benioff.

Salesforce continued its upward climb in first-quarter earnings on Tuesday with a major beat across the board that sent its stock up in after-hours trading, despite downward trends across Wall Street.

Here’s what the company reported:

  • Revenue for the first quarter of fiscal 2019 (GAAP): Salesforce reported $US3.01 billion, up 25% from the year before. Analysts expected $US2.94 billion.
  • Earnings per share for the quarter (adjusted):Salesforce reported $US0.74. Analysts expected $US0.46.
  • Operating cash flow for the quarter:Salesforce reported $US1.47 billion, up 19% from the year before.
  • Revenue guidance for Q2 2019 (GAAP):Salesforce expects $US3.22 billion to $US3.23 billion. Analysts expected $US3.11 billion.
  • Earnings per share guidance for Q2 2019 (adjusted): Salesforce expects $US0.46 to $US0.47. Analysts expected $US0.52.
  • Revenue guidance for the year (GAAP):Salesforce expects $US13.08 billion to $US13.13 billion. Analysts expected $US12.75 billion.
  • Earnings-per-share guidance for the year (adjusted): Salesforce expects $US2.29 to $US2.31. Analysts expected $US2.13.

Salesforce’s stock was up roughly 2.5% in after-hours trading.

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