{"id":7141,"date":"2024-02-28T22:10:42","date_gmt":"2024-02-28T22:10:42","guid":{"rendered":"https:\/\/demo5.dedicatedhost247.com\/zexo\/salesforce-shares-slip-after-the-company-calls-for-single-digit-full-year-revenue-growth\/"},"modified":"2024-02-28T22:10:42","modified_gmt":"2024-02-28T22:10:42","slug":"salesforce-shares-slip-after-the-company-calls-for-single-digit-full-year-revenue-growth","status":"publish","type":"post","link":"https:\/\/demo5.dedicatedhost247.com\/zexo\/salesforce-shares-slip-after-the-company-calls-for-single-digit-full-year-revenue-growth\/","title":{"rendered":"Salesforce shares slip after the company calls for single-digit full-year revenue growth"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107379695\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Marc Benioff, co-founder and CEO of Salesforce, speaks on a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024.<\/p>\n<p>Stefan Wermuth | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/CRM\/\">Salesforce<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> shares slid as much as 6% in extended trading on Wednesday after the business software maker issued a light revenue forecast for the new fiscal year. It will start paying a dividend at 40 cents per share.<\/p>\n<p>Here&#8217;s how the company did, compared with estimates from LSEG:<\/p>\n<ul>\n<li><strong>Earnings per share:<\/strong> $2.29, adjusted, vs. $2.26 expected<\/li>\n<li><strong>Revenue:<\/strong> $9.29 billion, vs. $9.22 billion expected<\/li>\n<\/ul>\n<p>Salesforce&#8217;s revenue grew 10.8% year over year in the quarter, which ended on Jan. 31, according to a <a href=\"https:\/\/www.businesswire.com\/news\/home\/20240228722646\/en\/\" target=\"_blank\" rel=\"noopener\">statement<\/a>. Professional services revenue declined 9%. The company reported net income of $1.45 billion, or $1.47 per share, compared with a loss of $98 million, or 10 cents per share.<\/p>\n<p>During the quarter, Salesforce said it would acquire sales commission software startup <a href=\"https:\/\/www.salesforce.com\/news\/stories\/salesforce-signs-definitive-agreement-to-acquire-spiff\/\" target=\"_blank\" rel=\"noopener\">Spiff<\/a> for undisclosed terms and was starting to sell its products on the <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\"><a href=\"https:\/\/www.cnbc.com\/quotes\/AMZN\/\">Amazon<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> Web Services <a href=\"https:\/\/www.businesswire.com\/news\/home\/20231127174100\/en\/\" target=\"_blank\" rel=\"noopener\">marketplace<\/a>.<\/p>\n<p>Salesforce called for adjusted fiscal first-quarter earnings of $2.37 to $2.39 per share, with $9.12 billion to $9.17 billion in revenue. Analysts polled by LSEG had been expecting $2.20 in adjusted earnings per share on $9.15 billion in revenue.<\/p>\n<p>For the new 2025 fiscal year, Salesforce said it sees adjusted earnings of $9.68 to $9.76 per share and $37.7 billion to $38.0 billion in revenue. The revenue figure implies 8.6% growth at the middle of the range. Analysts had expected $9.57 per share, along with $38.62 billion in revenue.<\/p>\n<p>Excluding the after-hours move, Salesforce shares have risen about 14% so far this year, while the S&amp;P 500 index has gained 6% over the same period.<\/p>\n<p>Executives will discuss the results with analysts on a conference call starting at 5 p.m. ET.<\/p>\n<p><strong>This is breaking news. Please check back for updates.<\/strong><\/p>\n<p><strong>WATCH:<\/strong> <a href=\"https:\/\/www.cnbc.com\/video\/2024\/01\/23\/salesforce-ceo-activist-investors-only-want-to-hear-about-money.html\">Salesforce CEO: Activist investors only want to hear about money<\/a><\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-107363055\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107363055\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000329311\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><span class=\"InlineVideo-videoButton\"\/><span\/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Marc Benioff, co-founder and CEO of Salesforce, speaks on a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. Stefan Wermuth | Bloomberg | Getty Images Salesforce shares slid as much as 6% in extended trading on Wednesday after the business software maker issued a light revenue forecast for the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7142,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[46],"tags":[261,1325,1036,52,199,223,1188,730,1324,10810,1278,1330,10808,10167,571,10809,1436,304],"jetpack_featured_media_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107379695-1709134286874-gettyimages-1934086255-DAVOS_WEF_2024.jpeg?v=1709134361&w=1920&h=1080","_links":{"self":[{"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/posts\/7141"}],"collection":[{"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/comments?post=7141"}],"version-history":[{"count":0,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/posts\/7141\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/media\/7142"}],"wp:attachment":[{"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/media?parent=7141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/categories?post=7141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/tags?post=7141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}