Salesforce pleased with increased profit forecast – share price jumps

taketonews

SAN FRANCISCO (dpa-AFX) – The US software manufacturer Salesforce is looking more positively at the profit of the current year. Adjusted earnings per share (EPS) will be between $4.74 and $4.76, the company announced on Tuesday after the US market closed. So far, the SAP (SAP SE) rival had assumed $4.62 to $4.64. Experts had expected $4.68.

In terms of sales, however, Salesforce backtracked. Only 31.7 to 31.8 billion US dollars are to be brought in here, after previously 32.0 to 32.1 billion dollars. Analysts had previously expected $32.08 billion.

Investors apparently weighted the increased earnings forecast more heavily than the lowered sales forecast. In after-hours trading, Salesforce’s stock rose 6 percent.

In the first quarter, sales climbed 24 percent over the same period last year to $7.41 billion. The bottom line, however, is that profits have fallen from $469 million in the previous year to $28 million. Experts had expected worse numbers./he

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