Salesforce misses on revenue, issues disappointing guidance

Salesforce CEO Marc Benioff appears at the World Economic Forum in Davos, Switzerland, on Jan. 23, 2025. Salesforce reported weaker-than-expected quarterly revenue on Wednesday and issued a forecast that fell short of analysts' estimates. Here's how the company did in relation to LSEG consensus: Earnings per share: $2.78 adjusted vs. $2.61 expected $2.78 adjusted vs. $2.61 expected Revenue: $9.99 billion vs. $10.04 billion expected Revenue increased 7.6% from a year ago in the quarter that ended Jan. 31, according to a statement. Net income rose to $1.71 billion, or $1.75 per share, from $1.45 billion, or $1.47 per share, a year earlier. The top category of subscription and support revenue was service, at $2.33 billion. The figure was up about 8% and below the $2.37 billion consensus among analysts surveyed by Visible Alpha. In the sales category, Salesforce generated $2.13 billion in revenue, up 8% and also trailing Visible Alpha's consensus of $2.17 billion. During the quarter ... Read full article.