Salesforce shares fell 4 percent Wednesday after the company reported better-than-expected revenue for the second quarter of its 2019 fiscal year, which ended on July 31.
Here’s how Salesforce performed:
- Earnings: 53 cents per share, excluding certain items, vs. 47 cents per share as expected by analysts, according to Thomson Reuters. (Salesforce reported 71 cents per share, excluding certain items, but that includes an 18-cent benefit from “partial release of the tax valuation allowance as a result of the MuleSoft acquisition.”)
- Revenue: $3.28 billion, vs. $3.23 billion as expected by analysts, according to Thomson Reuters.
Overall, Salesforce’s revenue was up 27 percent year over year, according to a statement. The biggest product category, Sales Cloud for keeping track of relationships with customers, generated just over $1 billion in revenue, up 12.7 percent year over year and up 4 percent sequentially.
The biggest growth came in Salesforce’s Platform and Other category, which includes the AppExchange marketplace, the Heroku cloud platform and the Quip productivity software. It brought in $712 million, which was up almost 54 percent year to year.
