- Salesforce's job postings in September grew at the fastest rate in at least two years, which "reflects recent bullishness, but also dampens margins in the short term," according to Mark Murphy of Piper Jaffray.
A quick look at earnings - estimates were 31 cents and $410.5M in revenue for third quarter. They came in at 32 cents on $429M in revenue. Usually high multiple stocks need to "really beat" by a wide margin to avoid being punished, but apparently CRM is an exception. I guess the revenue guidance was enough to cause shorts to scramble.
- For Q4, the company sees revenue of $447 million to $449 million, with non-GAAP EPS of 27-28 cents; the Street consensus has been for $424.8 million and 28 cents.
- The company's paying customer base rose 4,700 during the quarter to about 67,900, 31 percent larger than it was in a year earlier.
- For the current Q4, Salesforce expects to earn 27-28 cents a share, at best in line with analyst views for 28 cents. But its revenue target of $449 million is far more upbeat than analysts' bet for $424.8 million. It would be a 36% gain.