Salesforce (CRM) on Wednesday reported April-quarter earnings and revenue that topped analyst estimates as operating margins improved amid cost-cutting spurred by activist investors. But CRM stock fell as its revenue outlook only edged by views.
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For the quarter ended April 30, Salesforce earnings rose 72% to $1.69 per share on an adjusted basis. San Francisco-based Salesforce said revenue climbed 11% to $8.25 billion.
CRM stock analysts expected Salesforce to report earnings of $1.61 a share on sales of $8.18 billion. A year earlier, Salesforce reported profit of 98 cents a share on sales of $7.41 billion.
April quarter operating margin was 27.6%, with restructuring boosting margin by nearly 9%, the company said. However, one concern for CRM stock amid cost-cutting is that it could impact sales growth. For example, the software maker may not have enough resources to expand…
