Salesforce Gains on Strong Profit Forecast Topping Estimates
- Software maker also reports first-quarter revenue jumps 23%
- COO says Slack purchase expected to close in current quarter
This article is for subscribers only.
Salesforce.com Inc., the top maker of cloud-based customer relations software, projected annual profit that would top analysts’ estimates, suggesting increased purchasing by companies emerging from the pandemic. Shares gained about 5% on the forecast.
Fiscal-year earnings, excluding some items, will be $3.79 to $3.81 a share, the San Francisco-based company said Thursday in a statement. Analysts, on average, projected $3.45, according to data compiled by Bloomberg. Annual revenue will be as much as $26 billion, compared with analysts’ average estimate of $25.8 billion.