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| Name | Symbol | Market | Type |
|---|---|---|---|
| Salesforcecom CDR CAD Hedged | NEO:CRM | NEO | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.67 | -3.05% | 21.29 | 21.24 | 24.38 | 21.76 | 21.76 | 21.76 | 41,824 | 20:55:00 |
From Mar 2020 to Mar 2025
DOW JONES NEWSWIRES
Salesforce.com Inc.'s (CRM) fiscal second-quarter profit more than doubled as revenue surged, strong growth that led the company to raise its views for the fiscal year.
The company's shares jumped 7.6% to $49.70 in late trading as results topped the company's own estimates. The shares have more than doubled since late November but remain down 25% from a year ago.
So far, the provider of on-demand sales software, which also offered a promising third-quarter outlook, has shrugged off analyst concerns in recent months that the fast-growing company could face lower renewal rates and declining demand due to layoffs and economic weakness.
For the period ended July 31, Salesforce.com reported earnings of $21.2 million, or 17 cents a share, up from $10 million, or 8 cents a share, a year earlier. Revenue grew 20% to $316.1 million.
In May, the company projected earnings of 14 cents to 15 cents on revenue of $312 million to $313 million
Subscription and support revenue climbed 22%, while professional services and other revenue dropped 3%.
Gross margin widened to 80.2% from 79.4%. The company's paying customer base grew 32% to 63,200.
For the fiscal year, Salesforce.com now expects earnings of 60 cents to 61 cents a share on revenue of $1.27 to $1.28 billion, above the earnings of 59 cents to 60 cents a share and revenue of $1.25 billion to $1.27 billion the company previously expected.
The company expects fiscal third-quarter earnings of 15 cents to 16 cents on revenue of $323 million to $324 million. Wall Street expects earnings of 15 cents a share on revenue of $318 million.
-By Jay Miller, Dow Jones Newswires; 212-416-2355; jay.miller@dowjones.com
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