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Salesforce Leaves Street Ebullient As Stock Climbs

Salesforce.com (NYSE:CRM) stock surged Friday in the wake of another lauded earnings report for the software maker, as shares defied a broader market downturn.

Following Thursday's after-hours earnings report, Salesforce stock jumped at the open on Friday, gaining more than 5% shortly after the opening bell in the stock market today. By midday, though, Salesforce.com stock gave back some gains and was up about 3% near 70. That's after Salesforce stock dropped 5.9% on Thursday.

Salesforce came in ahead of forecasts on all fronts for its fiscal 2016 second quarter, ended in July. The company said earnings sans items were 19 cents, up 46% from the year-ago quarter and 2 cents ahead of the consensus estimate of analysts polled by Thomson Reuters. Revenue was $1.63 billion, up 24% and beating estimates of just under $1.6 billion. The sales figure snapped a three-quarter string of slowing growth in sales.

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