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.