Salesforce.com Inc. shares were down 3.5% in after-hours trading Tuesday after the cloud-based enterprise software provider reported fourth-quarter earnings that were shy of Wall Street estimates, and announced co-Chief Executive Keith Block is stepping down. Company co-founder and co-CEO Marc Benioff remains in charge. Salesforce reported a loss of $248 million, or 46 cents a share, in the quarter, compared with net income of $362 million, or 46 cents a share, in the year-ago fourth quarter. Revenue improved 35% to $4.85 billion from $3.6 billion a year ago. Analysts surveyed by FactSet had expected a loss of 2 cents a share on sales of $4.76 billion. Salesforce shares are up 11.5% over the last 12 months. The broader S&P 500 index has gained 12% in the last year. Read More...
Salesforce.com Inc. shares were down 3.5% in after-hours trading Tuesday after the cloud-based enterprise software provider reported fourth-quarter earnings that were shy of Wall Street estimates, and announced co-Chief Executive Keith Block is stepping down. Company co-founder and co-CEO Marc Benioff remains in charge. Salesforce reported a loss of $248 million, or 46 cents a share, in the quarter, compared with net income of $362 million, or 46 cents a share, in the year-ago fourth quarter. Revenue improved 35% to $4.85 billion from $3.6 billion a year ago. Analysts surveyed by FactSet had expected a loss of 2 cents a share on sales of $4.76 billion. Salesforce shares are up 11.5% over the last 12 months. The broader S&P 500 index has gained 12% in the last year.
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