Salesforce (CRM) reported second-quarter results on Wednesday, beating expectations on both revenue and profit, reporting revenue of $9.33 billion (versus $9.23 billion expected) and adjusted earnings per share of $2.56 (versus $2.35 expected). The company also announced that revenue grew 8% year over year and raised its full-year revenue outlook.
Third Bridge analyst Charlie Miner joins Market Domination Overtime to provide insight into Salesforce's earnings and what investors should expect going forward.
“I think what a lot of people are excited about right now is the beat-up adjusted operating margin result. Profitability has been a total focus for Salesforce over the last six quarters. It can't be overlooked, especially now that growth has slowed to single digits over the last two quarters. This is only the second time in Salesforce's history that this has happened,” Miner explained to Yahoo Finance.
He argued that the company will be focusing on AI going forward: “Salesforce is a leader in application software, and no company is better positioned to take advantage of the massive AI opportunity that lies ahead.”
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This post was written by Nicholas Giacobino
