Why Salesforce Stock Is Slipping Today
Salesforce (NYSE: CRM) stock is losing a bit of ground today following the company's recent fourth-quarter report. The software specialist's share price was down 1% as of 1:15 p.m. ET. The stock had been off as much as 4.8% earlier in trading.
Salesforce published its fiscal Q4 numbers after the market closed yesterday, reporting mixed results. While earnings came in better than anticipated, sales came in under Wall Street's expectations. The company's forward guidance also missed Wall Street's target.
Salesforce posted non-GAAP (generally accepted accounting principles) adjusted earnings per share of $2.78 in the fourth quarter of its last fiscal year, which ended Jan. 31. The performance surpassed the average analyst estimate's call for adjusted earnings per share of $2.60, but the company's $9.99 billion in revenue missed the average analyst forecast by $50 million. Sales were up 7.5% year over year in the period, and adjusted earnings per share were up 21.4%.
Source Fool.com
