Salesforce brought the sauce for earnings today. 🔥 🌶️
The CRM software announced earnings of $1.48 per share. Analysts were expecting just $0.92, making for a pretty beefy beat. To make matters even better, the company bested analysts’ revenue estimates, too — the company posted $6.34 billion in revenue, up 23% YoY.
The bulk of revenue came from subscriptions, which represented $5.91 billion (93.2%). The other notable revenue came from professional services and other services. The company also completed its acquisition of Slack this quarter, which will go a long way to expanding Salesforce’s product offerings. Slack is expected to contribute $530 million in income to the company this year. That might not sound like much, but that’s still money.
But wait, there’s more: regarding the company’s earnings guidance, Salesforce now anticipates $26.2 billion in revenue and an EPS of $4.36-$4.38 for FY 2021. Regarding Salesforce’s stock price, increased guidance and good news pushed $CRM 2% higher in AH.
Salesforce-backed Snowflake also reported after the bell, recording a loss of ($0.64) per share and $272 million in revenue. While revenue beat analysts’ expectations, EPS was starkly below hopeful expectations. $SNOW fell 1.3% in AH.