Salesforce Adj. EPS Tops Estimate, Q4 Outlook Weak; Stock Down 3.7%

(RTTNews) - Cloud computing company Salesforce (CRM) Wednesday reported third-quarter net loss of $38.9 million or $0.06 per share compared with a loss of $124.4 million or $0.21 per share last year.

Excluding items, adjusted earnings for the quarter were $0.14 per share compared with $0.09 per share a year ago.

Revenues for the quarter were $1.29 billion compared with $1 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.13 per share on revenues of $1.37 billion for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter of fiscal 2015, Salesforce expects adjusted earnings of $0.13 to $0.14 per share on revenues of $1.436 billion to $1.441 billion. Analysts expect earnings of $0.15 per share on revenues of $1.45 billion.

For the fiscal year 2015, the company expects adjusted earnings of $0.51 to $0.52 per share on revenues of $5.365 billion to $5.370 billion. It earlier expected earnings of $0.50 to $0.52 per share on revenues of $5.34 billion to $5.37 billion.

Analysts expect earnings of $0.52 per share on revenues of $5.37 billion for 2015.

For the fiscal year 2016, Salesforce expects revenues of $6.45 billion to $6.50 billion, while analysts expect $6.66 billion.