Salesforce.com Results Beat in Q3; Lifts Revenue Guidance

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Investing.com – Salesforce.com (NYSE:CRM) reported Tuesday third-quarter results that topped expectations as the ongoing ramp-up in digital transformation spending continued underpin demand.

Salesforce also announced that it had promoted chief product officer Bret Taylor to the role of co-CEO, alongside Marc Benioff. “Together, Bret and I will lead Salesforce through our next chapter, while living our shared values of trust, customer success, innovation and equality for all,” Benioff said.

Salesforce.com shares lost 5.40% in after-hours trade following the report.

Salesforce.com announced earnings per share of $1.27 on revenue of $6.86 billion. Analysts polled by Investing.com anticipated EPS of 92 cents on revenue of $6.8 billion.

Looking ahead, the company said it expected to generated Q4 revenue in range of $7.2 billion to $7.23 billion, and raised its full-year 2022 guidance to between $26.39 billion to $26.40 billion from $26.2 billion to $26.3 billion previously. That compared with analysts estimates for Q4 revenue guidance of $7.23 billion and FY22 revenue of $26.34 billion.

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