Explore the latest developments concerning Salesforce Earnings Today:.
Salesforce commits $50 billion for new buybacks as revenue guidance falls short
Salesforce shares slipped 3% in extended trading on Wednesday after the customer service software maker reported healthy results, although its fiscal 2027 revenue view trailed Wall Street projections.
Salesforce's revenue grew 12% year over year in its fiscal fourth quarter, which ended on Jan. 31, according to a statement. It's the company's fastest growth rate in two years.
The company said it has allocated $50 billion for new share buybacks.
Net income of $1.94 billion, or $2.07 per share, increased from $1.71 billion, or $1.75 per share. Adjusted earnings per share excludes stock-based compensation expense, amortization of purchased intangible assets and restructuring costs.
Current remaining performance obligation, a sum of contracted but unrecognized revenue and unbilled amounts that will be recognized as revenue over the next year, came in at $35.1 billion. The figure was higher than StreetAccount's $34.53 billion consensus.
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