SAAS juggernaut Salesforce posted its quarterly results and crushed analyst expectations , but apparently that was not enough to propel its stock upwards.
It reported revenue of $2.39 billion. Analysts were expecting $2.35 billion.Adjusted EPS of $0.28. Analysts were looking for $0.26.
The company also said its earnings for the year would be better than previously expected. Salesforce now expects to post full-year non-GAAP EPS of $1.28 to $1.30. It expects its full-year GAAP EPS to range from $0.06 to $0.08.
In February, the company had projected GAAP earnings of $0.05 to $0.07 a share and non-GAAP profits of $1.27 to $1.29.
Salesforce’s deferred revenue as of April 30 was $5.04 billion, which was up 26% year-over-year. And unbilled deferred revenue, representing business that is contracted but unbilled and off the balance sheet, tallied approximately $9.6 billion at the end of the quarter, which was up 26% year-over-year.