Salesforce (CRM) reported better-than-expected third-quarter earnings. The company reported adjusted earnings of $2.11 per share, well above the $2.06 estimate. Revenue of $8.72 billion just barely topped Wall Street expectations of $8.71 billion. Salesforce also issued fourth quarter adjusted earnings guidance of $2.25 to $2.26 per share, compared to an estimate of $2.17. Essex Investment Management Co-CEO Nancy Prial says the company is showing progress on expanding its offerings and raising prices. Prial also notes Salesforce is at "the very beginnings of their entry into really using AI technology and using generative AI to allow their customers to really monetize and get a lot more value out of all of the data that's embedded in their CRM systems." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Two successful Dow components were purchased in droves by billionaire fund managers during the September-ended quarter. However, another brand-name component found itself on the chopping block.
The headline numbers for Salesforce.com (CRM) give insight into how the company performed in the quarter ended October 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.