Salesforce.com: Fiscal Q1 Earnings Snapshot

May 31, 2022 GMT

SAN FRANCISCO (AP) _ Salesforce.com Inc. (CRM) on Tuesday reported fiscal first-quarter net income of $28 million.

The San Francisco-based company said it had net income of 3 cents per share. Earnings, adjusted for one-time gains and costs, came to 98 cents per share.

The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.

The customer-management software developer posted revenue of $7.41 billion in the period, which also topped Street forecasts. Thirteen analysts surveyed by Zacks expected $7.37 billion.

For the current quarter ending in August, Salesforce.com expects its per-share earnings to range from $1.01 to $1.02. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.11.

The company said it expects revenue in the range of $7.69 billion to $7.7 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $7.74 billion.

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Salesforce.com expects full-year earnings in the range of $4.74 to $4.76 per share, with revenue ranging from $31.7 billion to $31.8 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRM at https://www.zacks.com/ap/CRM