Speaking to Benzinga, Wedbush Analyst Steven Koenig said that he expects salesforce.com, inc. CRM to report better-than-expected revenues and earnings, while reducing revenue guidance for the current year based on currency headwinds. Wedbush expects revenues $9 million above consensus estimates and EPS $0.01 above consensus.
Koenig anticipates better results from a “return to trend” growth, as well as initiatives that Keith Block, Salesforce.com’s president and vice chairman, set in motion. According to Koenig, Block has had sufficient time to put in place solutions and selling initiatives for major accounts that should “generate large transactions.” These initiatives have had “time to take root and will bear some fruit.”
Looking at guidance, Koenig says that the unchanged or lower guidance should “not be a surprise” to investors as many companies are experiencing the similar headwinds. Instead, investors should look at growth in billings, bookings and deferred sales commissions as the major numbers from the report.
Mark Meadows and Brianna Valleskey contributed to this report.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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