Salesforce.com (CRM) Beats Views, Guides Well, But Investors Hit Exits
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Price: $209.17 +1.82%
Revenue Growth %: +11.1%
Financial Fact:
Research and development: 311.46M
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Revenue Growth %: +11.1%
Financial Fact:
Research and development: 311.46M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Salesforce.com (NYSE: CRM) investors are hitting the exits Thursday, following largely strong third-quarter results and outlook.
Revenue for the quarter rose 36.2 percent from $429.09 million last year to $584.26 million in the recent quarter.
Salesforce.com swung to a loss of $3.756 million, or 3 cents per share, in the quarter, from profit of $22.368 million in the same period last year. Adjusting for certain items, net income was 34 cents per share.
Overall, the Street was looking for revenue of $571.42 million and earnings of 31 cents per share.
Not much was given in the way of color in the quarter, such as how certain platforms performed, or which industries were utilizing Salesforce.com the most.
Looking ahead, Salesforce.com sees fourth-quarter non-GAAP earnings of 39 to 40 cents per share and revenue of $620 to $624 million, versus consensus views calling for earnings of 40 cents and sales of $609.8 million.
For fiscal 2012, revenue is expected to be $2.26 to 2.60 billion and non-GAAP EPS of $1.32 to $1.33. The Street sees earnings of $1.30 per share and revenue of $2.23 billion.
Salesforce.com also issued a 2013 outlook, seeing revenue of $2.88 to $2.92 billion, versus consensus views of $2.79 billion.
In late Thursday trading, Salesforce.com is down a whopping 6.5 percent.
Revenue for the quarter rose 36.2 percent from $429.09 million last year to $584.26 million in the recent quarter.
Salesforce.com swung to a loss of $3.756 million, or 3 cents per share, in the quarter, from profit of $22.368 million in the same period last year. Adjusting for certain items, net income was 34 cents per share.
Overall, the Street was looking for revenue of $571.42 million and earnings of 31 cents per share.
Not much was given in the way of color in the quarter, such as how certain platforms performed, or which industries were utilizing Salesforce.com the most.
Looking ahead, Salesforce.com sees fourth-quarter non-GAAP earnings of 39 to 40 cents per share and revenue of $620 to $624 million, versus consensus views calling for earnings of 40 cents and sales of $609.8 million.
For fiscal 2012, revenue is expected to be $2.26 to 2.60 billion and non-GAAP EPS of $1.32 to $1.33. The Street sees earnings of $1.30 per share and revenue of $2.23 billion.
Salesforce.com also issued a 2013 outlook, seeing revenue of $2.88 to $2.92 billion, versus consensus views of $2.79 billion.
In late Thursday trading, Salesforce.com is down a whopping 6.5 percent.
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