Salesforce.com Shares Down 11% Due to Worse Than Expected Q4 Guidance
<p><a href='https://financialmodelingprep.com/financial-summary/CRM'>Salesforce.com (NYSE:CRM) </a>shares were trading more than 11% lower Wednesday afternoon following the company’s reported Q3 results. While both EPS and revenue beat the consensus estimates, the company’s Q4 EPS guidance of $0.72–0.73 was below the $0.82 consensus estimate.</p>
<p>Q3 revenue grew 27% year-over-year to $6.86 billion, beating the consensus estimate of $6.80 billion. Quarterly EPS came in at $1.27, better than the consensus estimate of $0.9.</p>
<p>The overall business momentum slowed during the quarter and Mulesoft was called out as having a challenging quarter. Additionally, the Q4 organic CRPO guidance implies further deceleration, but could prove conservative given the increasing invoicing seasonality next quarter. </p>
<p>Positively, the margin story remains on track despite the extra expenses for integrating Slack and Acumen, revenue attrition reached a record at sub-8%, and Service Cloud had a strong quarter. </p>

NYSE:CRM