real-time news and commentary for investors
Thursday, Aug 29
Salesforce jumps AH on beat and raise
- Shares of Salesforce (CRM) are up 7.1% AH (adding to an intraday gain of +2%) after the company beat Q2 expectations and guided for Q3 revenue of $1.05B-$1.055B (consensus of $1.04B) and EPS of $0.08-$0.09 (consensus of $0.07).
- FY 2014 revenue is projected to be $4B-$4.025B (consensus of $3.99B) and EPS is expected to be $0.32-$0.34 (consensus of $0.33).
- A caveat: FCF declined 24.6% Y/Y to $80.6M. Operating cash flow was up 34.5% Y/Y to $183.2M, outpaced by a capex surge of 249.9% to $102.5M.
- Conference call at 5pm ET