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Salesforce Lifts FY Adj. EPS Outlook; Shares Up 5%

While reporting its results for the first quarter on Tuesday, Salesforce (CRM) lowered its revenue outlook for the full year 2023, but lifted its adjusted earnings guidance. Shares gained 5% in the after-hours trading.

For the full year 2023, the company now expects revenues of $31.7 billion to $31.8 billion and adjusted earnings of $4.74 to $4.76 per share. Analysts currently estimate earnings of $4.65 per share and revenues of $32.06 billion.

Previously, the company had expected revenues of $32.0 billion to $32.1 billion and adjusted earnings of $4.62 to $4.64 per share.

CRM closed Tuesday's trading at $160.24, down $4.86 or 2.94%, on the NYSE. The stock, however, gained $8.69 or 5.42%, in the after-hours trading.

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