Salesforce revenues are up 24% and company shares just briefly hit an all-time high

Salesforce CEO Marc Benioff's shares are going up.

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Salesforce CEO Marc Benioff’s shares are going up.
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REUTERS/Mike Blake

Salesforce is quickly outpacing its own revenue goals, and fiscal year 2018 was no exception.

The cloud software company beat analyst expectations for the fourth quarter, with revenue up 24% from the year before. Fiscal year revenue also beat, and was up 25% from fiscal year 2017.

Salesforce also raised its guidance for 2019 by $150 million, to between $12.60 billion and $12.65 billion. The company projects an adjusted earnings per share of $2.02 to $2.04 for fiscal year 2019 as well.

Investors had a mixed reaction after the bell on Wednesday. Shares for the company surged up to an all-time high of $118.60 in after-hours trading, before falling down less than a percentage point around $115.619.

Here’s what Salesforce reported:

  • Revenue (GAAP) for Q4 2018: Salesforce reported $2.85 billion in revenue, up 24% from the year before. This is compared to analyst expectations of $2.81 billion.
  • Revenue (GAAP) for fiscal year 2018: Salesforce reported $10.48 billion in annual revenue, up 25% from the year before. This is compared to analyst expectations of $10.44 billion.
  • Earnings per share (adjusted) for Q4 2018: The company reported $0.35 in earnings per share, compared to analyst expectations of $0.34.
  • Earnings per share (adjusted) for fiscal year 2018: The company reported $1.35 in earnings per share for the year, compared to analyst expectations of $1.34.
  • Revenue (GAAP) for Q1 2019: Salesforce expects revenue of $2.925 billion to $2.935 billion for the current quarter. This is compared to analyst estimates of $2.9 billion.
  • Earnings per share (adjusted) for Q1 2019: Salesforce expects $0.43 to $0.44 in earnings per share for the current quarter, compared to analyst estimates of $0.37.

This is a developing story. Refresh the page for updated information.