Salesforce Trades Higher After Big Q1 Earnings Beat

Salesforce.com, inc. CRM shares are moving higher after a big first-quarter earnings beat.

Adjusted earnings came in at 93 cents per share, beating estimates by 32 cents. Sales came in at $3.737 billion, beating estimates by $57 million.

Salesforce raised adjusted full-year EPS from $2.54-$2.56 to $2.88-$2.90.

"I am thrilled with our results this quarter, and I am especially excited to have delivered record revenue in Q1 and operating cash flow of almost $2 billion, up 34% year-over-year," said Marc Benioff, chairman and co-CEO. "We have a massive opportunity in front of us and are well-positioned for long-term growth as the world's #1 CRM."

Highlights

• Revenue up 24 percent year-over-year
• Operating cash flow up 34 percent year-over-year

Salesforce shares are up 3.3 percent in after-hours trading at $156.08. The stock closed at $150.81.

Photo courtesy of Salesforce.