Salesforce Q1 profit plunged to $99 millionChristian 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
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.
Salesforce.com'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. ■