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!


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