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Salesforce Tumbles After Disappointing Guidance Inc NYSE:CRM,, Inc. NASDAQ:AMZN - Salesforce Tumbles After Disappointing Guidance

Shares of, inc. CRM 0.51% were trading down more than 6 percent in Wednesday’s after-hours session following the announcement of the company’s Q2 results.

While EPS of $0.24 came in $0.02 ahead of the Street’s consensus, revenue of $2.04 billion was slightly higher than the anticipated $2.02 billion, and unbilled deferred revenue came in around ~$8.0 billion, up 29 percent year-over-year, Q3 guidance disappointed investors.

For the third quarter, management said it expects revenue of $2.11 billion to $2.12 billion, below expectations for $2.13 billion. Non-GAAP EPS guidance for $0.20 to $0.21 also fell short of analysts’ consensus, which stands at $0.24.

For the full year, the company forecast non-GAAP EPS of $0.93 to $0.95, mostly below the Street’s $0.95 estimate, and revenue of $8.275 billion to $8.325 billion, once again under expectations for $8.31 billion.

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CEO Marc Benioff said, "Second quarter revenue grew 25 percent in dollars, and 26 percent in constant currency, propelling Salesforce past the $2 billion quarterly revenue milestone. No other enterprise software company of our size is growing at this pace… At Dreamforce, you're going to see the next generation of Salesforce when we unveil Salesforce Einstein, the world's first comprehensive artificial intelligence platform for CRM. I've never been more excited about the innovation happening at Salesforce."

Shares of Salesforce closed Wednesday trading down $0.41 (0.51 percent) at $79.42.

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Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.

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