5 Stocks That Delivered Upbeat Financial Results

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1. salesforce.com, inc. (NYSE: CRM)

Number of Hedge Fund Holders: 108

salesforce.com, inc. (NYSE: CRM) is one of the world’s biggest software companies, enabling enterprises to connect to their customers using its suite of software and cloud technologies. Salesforce stock has been trading near its 52-week high after the company posted record revenue for the second quarter.

The company reported revenue of $6.34 billion for the three months ended July 31, up from $5.15 billion in the year-ago period. Analysts, on average, were expecting salesforce.com, inc. (NYSE: CRM) to generate revenue of $6.24 billion. In addition, salesforce.com, inc. (NYSE: CRM) earned $1.48 per share on an adjusted basis, beating the consensus forecast of 92 cents per share.

salesforce.com, inc. (NYSE: CRM) also raised the financial outlook for its fiscal year 2022. It now expects adjusted earnings in the range of $4.36-$4.38 per share, higher than the consensus forecast of $3.84. Revenue for the full year is expected to come between $26.2 billion to $26.3 billion versus analysts’ average estimate of $26 billion.

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Speaking on the results, CEO Marc Benioff said:

“With companies and governments around the world continuing to accelerate their digital transformations, we delivered our fifth phenomenal quarter in a row. Salesforce has never seen better execution or greater momentum. Our Customer 360 platform is now fueled by a herd of unicorns perfectly designed for this all-digital world. Sales, Service, Marketing & Commerce, Platform, Tableau, MuleSoft and now Slack are all billion dollar-plus products delivering customer success like no other company.”

You can also take a peek at 10 Tech Stocks that Pay Dividends and 10 Best Space Stocks to Buy Now.

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