“Salesforce stock is surging more than 25% a day after its blockbuster earnings report”
August 26, 2020
“Shares of Salesforce soared more than 27% Wednesday morning, as investors continued to rally around the enterprise-software company’s strong fiscal second-quarter earnings.
Salesforce reported adjusted earnings per share of $1.44 on revenue of $5.15 billion on Tuesday. That blew away analyst expectations of 67 cents earnings per share on revenue of $4.9 billion, according to Refinitiv.
The company said in its report that its adjusted earnings were positively impacted by mark-to-market accounting for the company’s investments. Salesforce’s overall revenue grew 29% year over year in the fiscal second quarter, which ended on July 31…”