Salesforce.com Shares Fall 7% After Lower Q3 Profit

Shares of CRM solutions platform Salesforce.com, Inc. (CRM) are down 7 percent on Wednesday's trading after the company reported a drop in third-quarter earnings.

The company's bottom line came in at $468 million or $0.47 per share, down from $1.08 billion or $1.15 per share last year.

Excluding items, Salesforce.com posted earnings of $1.27 billion or $1.27 per share for the period. Analysts had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters.

The company's revenue for the quarter rose 26.6 percent to $6.86 billion from $5.42 billion last year.

Currently at $264.31, the stock has traded between $201.51 and $311.75 during the past 52 weeks.

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