By: Tina Wadhwa
Salesforce reports fourth-quarter earnings that beat Wall Street estimates, but the stock is falling. Salesforce is down 2.75% at $79.11 a share after Tuesday’s market close.
Here are the numbers:
- Q4 revenue climbed 27% year-over-year to $2.29 billion ($2.28 billion expected)
- 2016 revenue jumped 26% YoY to $8.39 billion
- Q4 EPS of $0.28 ($0.25 expected)
With regards to fiscal year 2018, Keith Block, vice chairman, president and COO of Salesforce, said in a press release that Salesforce expects to “deliver more than $10 billion in revenue–reaching that milestone faster than any enterprise software company in history. No other software company of our size and scale is growing at this rate.”
For its full-year 2018 guidance, the company projects revenue of $10.15 billion to $10.20 billion, an increase of 21%-22% YoY.