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Salesforce Q1 profit plunged to $99 million

Christian Fernsby ▼ | May 29, 2020
Salesforce lowered its financial outlook for the full year 2021 due to the negative impact of coronavirus pandemic.
Salesforce   The company expects revenues of about $20.0 billion
Looking forward, the cloud-based enterprise software marker now expects adjusted earnings of $2.93 to $2.95 per share and revenues of about $20.0 billion.

Topics: Salesforce

Previously, for the full year 2021, the company expected revenues of $21.0 billion to $21.1 billion and adjusted earnings of $3.16 to $3.18 per share.'s first quarter profit plunged to $99 million or $0.11 per share from $392 million or $0.49 per share last year.

On an adjusted basis, earnings were $641 million or $0.70 per share for the period. Analysts had expected the company to earn $0.69 per share.

Revenue for the quarter rose 30.2% to $4.87 billion from $3.74 billion last year. Analysts had a consensus revenue estimate of $4.85 billion.