Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Salesforce edges past Wall Street's revenue target

Paayal ZaveriDec 4, 2019, 03:06 IST

Salesforce beat Wall Street's financial targets in the third quarter, even as it swung to a loss on tax related issues.

The San Francisco cloud giant grew its revenue 33% to $4.5 billion in the three months ending October 31, slightly above the $4.45 billion expected by analysts. Excluding certain items, Salesforce reported adjusted earnings per share of $0.75, compared to the $0.66 that Wall Street had forecasted.

Shares of Salesforce traded up and down after the earnings report in extended trading on Tuesday, with the tock down less than 1% at last check.

Here is what Salesforce reported for its fiscal Q3 2020:

Revenue: $4.5 billion. Wall Street expected $4.46 billion.
EPS (adjusted): $0.75. Analysts forecasted $0.66
EPS (GAAP): Loss of 12 cents per share.

Got a tip? Contact this reporter via email at pzaveri@businessinsider.com or Signal at 925-364-4258. You can also contact Business Insider securely via SecureDrop.