Salesforce Stock Dives on Lower-than-Expected Earnings and Revenue Forecast

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On the other hand, co-CEO Keith Block, commented, “Our relentless focus on delivering innovation and customer success has fueled our growth and solidified our leadership in the enterprise. This is just the beginning, which is why we’re now targeting $26 to $28 billion in revenue by FY23 – organically doubling our revenue again in the next four years.”

First quarter and full fiscal year 2020 financial outlook

For its first quarter fiscal 2020, Salesforce forecasted to achieve revenue in the range of $3.67 billion to $3.68 billion and earnings of around $0.60 to $0.61per share. Analysts expected the company to deliver earnings of $0.63 per share on $3.70 billion revenue for the first quarter, according to Refinitiv.

For the full fiscal year, Salesforce forecasted to achieve earnings of around $2.74 to $2.76 per share and revenue in the range of $15.95 billion to $16.05 billion. Analysts estimated the company to deliver earnings of $2.75 per share on $15.99 billion.