Where Will Salesforce Stock Be in 1 Year?
Salesforce's (NYSE: CRM) stock slid 7% during the after hours session on Aug. 24 following the release of its second-quarter report. The cloud-based software company's revenue rose 22% year-over-year (26% in constant currency terms) to $7.72 billion, which beat analysts' estimates by $20 million. Its adjusted net income fell 15% to $1.19 billion, or $1.19 per share, but still cleared the consensus forecast by $0.19.
However, Salesforce provided a weaker-than-expected forecast for the rest of the year. It expects its revenue to rise 14% year-over-year in the third quarter and to increase 17% for the full year. Analysts had been anticipating 18% growth in the third quarter and 20% growth for the full year.
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Source Fool.com
