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Most Trending
+11.30%
+5.40%
+28.01%
+2.63%
+2.79%
Despite announcing a significant reduction in its workforce just two months ago, Salesforce has delivered impressive results for its fourth fiscal quarter and a positive outlook for the future. This led to a substantial surge in the company's stock, with late Wall Street trading showing an increase of nearly 16%. The quarter saw Salesforce generating revenues of $8.38 billion, marking a 14% growth from the same period last year, surpassing analysts' expectations of $7.99 billion.
In the corresponding quarter, the net loss stood at $28 billion, which significantly contrasts with the current net loss of $98 million. Conversely, Salesforce reported a profit of $1.68 per share on an adjusted basis, which far exceeded the market's expectations of $1.36 per share.
The company's forecast for the current quarter (fiscal first) is an adjusted profit of $1.61-1.60 per share and revenues of $8.18-8.16 billion. Analysts expect adjusted earnings of $1.32 per share and revenue of $8.05 billion.
Salesforce's forecast for the entire fiscal year is an adjusted profit of $7.14-7.12 per share and revenues of $34.7-34.5 billion - here, too, above market expectations, for an adjusted profit of $5.84 per share and revenues of $34.03 billion.
"Six months ago, in September, at our investor day, we told you about our structural change plan, 'a new day of profit growth,'" CEO and founder Marc Benioff said tonight in the conference call.
"But things changed when we entered the fourth quarter. We realized that we had to radically speed up the time frame of the planned changes. We had to push the button and advance our goals for the next two years," said Benioff.
At the start of the year, Salesforce disclosed its plans to reduce its global workforce by 10% and shut down several of its offices. With a workforce of approximately 50,000 employees at the time of the announcement, this implies that around 5,000 employees were laid off. Salesforce also projected the cost of restructuring to be between $1.2 billion and $1.4 billion.
Please note that the article should not be considered as investment advice or marketing, and it does not take into account the personal data and requirements of any individual. It is not a substitute for the reader's own judgment, and it should not be considered as advice or recommendation for buying or selling any securities or financial products.
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Disclaimer:
The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by StocksRunner including any of their affiliates ("TS").
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Disclaimer:
The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by StocksRunner including any of their affiliates ("TS").
This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.
