Salesforce posted better-than-expected Q2 earnings

By: Miguel A. Rodriguez

09:45, 14 September 2020

The first cloud-software company to enter Dow Jones had a good Q2

Salesforce, the soon-to-be member of USA30, posted the Q2 earnings. 

The company reported a second-quarter net income of $2.63 billion, or $2.85 per share. Salesforce revenue figures were $5.15 billion, outperforming the $4 billion reported the same time last year. It beat the analyst expectations of $4.9 billion, with an adjusted EPS of 67 cents.

For the next quarter, the cloud-based software company expects an adjusted EPS of 73-74 cents, and revenues reaching a high of $5.25 billion. 

The company is looking for revenues that could reach a high of $20.8 billion at a yearly level, while the EPS is seen between $3.72- $3.74.  

Following the report, Salesforce stock price rallied more than 13%, pushing it to a record high. Year-to-date, it gained more than 33%, while USA500 went up 6.6%, and TECH100 added 28%.

Read all about the company’s addition into #DJIA here!


Share this article

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.