Update: Salesforce.com Hit Hard In After Hours Trading — Reports Q2 Revenues Up 34% With EPS Of 42 Cents
Salesforce.com just made an interesting announcement. It is tweeting its results as CEO Marc Benioff talks about the results in the company conference call. The company is reporting second quarter revenues of $732 million, up 34% compared to last year. Earnings per share were 42 cents.
But even with the tweeting it could not help the company’s stock price, which was down 5% in after hours trading as it offered a mixed business outlook for the year. In particular, it expects third quarter revenues to lose 26 cents and 27 cents per share with revenue between $773 million and $777 million. The company also expects its earnings of 31 or 32 cents per share. Analysts had been expecting 34 cents per share on $771 million in revenue.
Here’s an overall look at the company’s earnings:
Deferred revenues, which are calculated base on initial set up charges for a customer, were $1.34 billion up 43% year-over-year but up less than 1% from last quarter.
Revenue for the company’s third fiscal quarter is projected to be in the range of $773 million to $777 million, an increase of 32% to 33% year-over-year.
According to Seeking Alpha, Salesforce.com has met or beaten analysts’ estimates in the last four quarters. In the last quarter it reported 37 cents on its EPS, beating analyst estimates of 34 cents. Overall, analysts had expected the EPS 39 cents. That’s up from 30 cents a year ago. Analysts had expected $170.
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