Salesforce Beats Q2 Estimates, Cuts Revenue Guidance

    Author Stas SerfesPosted on Format VideoCategories Investing VideosTags , , , , , , , ,

    Salesforce (NYSE:CRM) Earnings

    Salesforce’s (NYSE:CRM) earnings are out. They did a $1.19 adjusted EPS versus $1.02, so they beat that on revenue of $7.72 billion versus $7.69 billion. That is up about 22% year over year. And even though they double beat on the quarter, their guidance for the third quarter is under the estimate, which is why the stock is falling.

    You guys can see here on the chart. It is down a little bit over 5% over the past couple of days.

    And on top of that, they also cut their guidance for fiscal 2023 for both earnings per share and revenue.

    That’s not good at all. So, Salesforce (NYSE:CRM) is struggling right now in the short term, as a lot of companies are. They’re expecting to do $4.71 EPS versus the $4.75 estimated.

    So it’s not a big difference, but it is under the estimate for full year ’23 and analysts have them doing $31.73 billion for full year ’23 versus their estimate of $30.9 billion.

    So what do you guys think? Let me know your thoughts. Follow along for more.

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    Author Stas Serfes
    About the author: Stas Serfes is a stock market investor/trader who owns Strive Smart LLC, a media company that’s amassed millions of views across multiple platforms. Upon graduating college, he realized he wanted to take the entrepreneurial route and create his own path. In 2017 Stas started his Youtube channel “Stas Serfes” where he began creating content on his experiences in the stock market and what he’s learned. This stemmed from his passion about money, business, stocks, and personal finance.