Beats Estimates But Bleak Forecast Scares Investors

attached imageSalesforce CEO Marc Benioff

Photo: Flickr/Dell’s Official Flickr Page today reported second-quarter earnings that beat the street. But its forecast for the third quarter may have some investors spooked.For the fiscal second-quarter, it lost $9.8 million, or 7 cents a share, on revenue of $731.6 million, compared with a loss of $4.3 million, or 3 cents a share, on $546 million in sales in the same period a year ago.

Excluding one-time items, Salesforce would have earned 42 cents a share.

Analysts expected non-GAAP earnings of 39 cents per share on $728.32 million in revenue. So it beat the Street.

But then it updated its third-quarter guidance saying it would lose between 26 cents and 27 cents a share, on revenue between $773 million and $777 million and hit non-GAAP earnings of 31 or 32 cents per share. Analysts were looking for 34 cents on $771 million in revenue.

Shares dropped 5% on the forecast news.

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