HomeInvesting VideosSalesforce Beats Q2 Estimates, Cuts Revenue Guidance

Salesforce Beats Q2 Estimates, Cuts Revenue Guidance

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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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