Salesforce edges past Wall Street's revenue target

marc benioffREUTERS/Elijah Nouvelage

Salesforce beat Wall Street's financial targets in the third quarter, even as it swung to a loss on tax related issues.

The San Francisco cloud giant grew its revenue 33% to $4.5 billion in the three months ending October 31, slightly above the $4.45 billion expected by analysts. Excluding certain items, Salesforce reported adjusted earnings per share of $0.75, compared to the $0.66 that Wall Street had forecasted.

Shares of Salesforce traded up and down after the earnings report in extended trading on Tuesday, with the tock down less than 1% at last check.

Here is what Salesforce reported for its fiscal Q3 2020:

  • Revenue: $4.5 billion. Wall Street expected $4.46 billion.
  • EPS (adjusted): $0.75. Analysts forecasted $0.66
  • EPS (GAAP): Loss of 12 cents per share.

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