5 Stocks in Focus After Releasing Their Earnings Reports

1. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 114

Shares of Salesforce, Inc. (NYSE:CRM) recently rose to a nearly 1-month high after beating profit and sales expectations for its fiscal first quarter. The cloud-based software company earned 98 cents per share on an adjusted basis, topping expectations of 94 cents per share.

In addition, Salesforce, Inc. (NYSE:CRM) posted revenue of $7.41 billion, representing a surge of 24 percent over the same period of 2021. Analysts were looking for revenue of $7.38 billion.

For its fiscal second quarter. Salesforce, Inc. (NYSE:CRM) expects adjusted earnings in the range of $1.01 – $1.02 per share and revenue between $7.69 – $7.7 billion. The outlook is below the consensus of $1.14 per share for earnings and $7.77 billion for revenue.

Speaking on the results, co-CEO Bret Taylor said:

“Our financial results once again demonstrate the strength and durability of our business model as we continue to see strong demand from customers across the entire Customer 360 portfolio. Salesforce has become even more strategic and relevant to our customers as we are providing them with the agility and resilience they need to drive growth and efficiency in these uncertain economic times.”

You can also take a peek at 10 Fertilizer Stocks to Buy Today and 10 Favorite Stocks of Dan Loeb’s Third Point.

Follow Insider Monkey on Twitter