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Stock Alert: Salesforce.com Shares Hit 52-Week High

Shares of Salesforce.com Inc (CRM) touched a 52-week high of $257.00 Wednesday morning, and are currently trading at $253.73, up $37.68 or 17.44%.

The company, on Tuesday, lifted its financial outlook for the full year 2021, while reporting better-than-expected Q2 results.

For fiscal 2021, the cloud-based enterprise software marker now expects adjusted earnings of $3.72 to $3.74 per share and revenues of $20.7 billion to $20.8 billion. Analysts polled by Thomson Reuters currently estimate earnings of $2.98 per share and revenues of $20.07 billion for the period.

Previously, the company expected earnings of $2.93 - $2.95 per share and revenues of about $20.0 billion.

For the third quarter, Salesforce expects adjusted earnings of $0.73 - $0.74 per share and revenues of $5.24 billion - $5.25 billion. Analysts currently estimate earnings of $0.77 per share on revenues of $5.02 billion.

The San Francisco, California-based company's second-quarter net income was $2.63 billion or $2.85 per share, up from $91 million or $0.11 per share last year.

Excluding items, Salesforce's adjusted earnings were $1.33 billion or $1.44 per share for the period. Analysts expected earnings of $0.67 per share.

The company's revenue for the quarter rose 28.8% to $5.15 billion from $4.00 billion last year. Analysts expected revenue of $4.90 billion for the quarter.

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