Salesforce (CRM) Q4 Earnings Beat Estimates, Revenues Up Y/Y
Zacks Investment Research | Mar 01, 2018 04:50AM ET
Salesforce.com Inc. (NYSE:CRM) reported fourth-quarter fiscal 2018 non-GAAP earnings of 35 cents per share, which beat the Zacks Consensus Estimate by a couple of cents and came ahead of the guided range of 32-33 cents. The figure jumped 25% primarily driven by strong top-line growth.
Revenues of $2.85 billion increased 24.3% year over year and surpassed the Zacks Consensus Estimate of $2.81 billion. Furthermore, revenues came above the guided range of $2.80-$2.81 billion. Revenues grew 21% at constant currency (cc). The improvement can be primarily attributable to rapid adoption of the company’s cloud-based solutions.
Shares increased 1.25% in after-hour trading.
Top-line Details
Now, coming to its business segments, revenues at Subscription and Support increased about 25.8% from the year-ago quarter to $2.66 billion. Professional Services and Other revenues climbed 6.9% to $193.7 million.
Sales Cloud, Service Cloud, Platform and other and Marketing & Commerce Cloud grew 16%, 28%, 37% and 33%, respectively.
Salesforce.com Inc Price, Consensus and EPS Surprise
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