From CNBC:

Salesforce CEO Marc Benioff spoke at the World Economic Forum in Davos, Switzerland. After issuing a light revenue forecast, Salesforce’s shares fell as much as 6% in extended trading. Earnings per share were $2.29 vs. $2.26 expected, revenue was $9.29 billion vs. $9.22 billion expected.

In the quarter ending Jan. 31, Salesforce’s revenue grew 10.8%, but professional services revenue declined 9%. The company reported net income of $1.45 billion. Salesforce announced the acquisition of Spiff and plans to sell products on Amazon Web Services marketplace.

Salesforce expects adjusted fiscal first-quarter earnings of $2.37 to $2.39 per share with $9.12 billion to $9.17 billion in revenue. For the 2025 fiscal year, adjusted earnings are projected at $9.68 to $9.76 per share with $37.7 billion to $38.0 billion in revenue.

Excluding after-hours movement, Salesforce shares have risen 14% this year, outpacing the S&P 500’s 6% gain. Executives will discuss the results in a conference call at 5 p.m. ET. Salesforce’s new forecast exceeds analyst expectations.

This is a developing story with updates pending. Check back for more information. CEO discusses handling activist investors in relation to company growth and performance.



Read more at CNBC:: Salesforce (CRM) Q4 earnings report 2024