Salesforce.com, Inc. (CRM), a company that develops enterprise cloud computing solutions, has slid 6.19% during aftermarket trading session. Consequently, CRM stock is trading at $267.31 at the time of the writing. On Tuesday, CRM closed the day at $284.96 after declining 3.97% during the mid-day session. The company is on a declining trajectory even after the announcement of strong quarterly results, which has left investors disappointed.
CRM Q3 2022 Operational Results
On Tuesday, CRM released the operational results for the third quarter of the fiscal year 2022, which ended 31st October. The company generated $6.86 billion in terms of revenue during the quarter against $5.41 billion for the same quarter of fiscal 2021. The total operating expenses bore by the company during the period were $4.98 billion against $3.8 billion for the same period of fiscal 2021. The net income generated by the company during the three months was $468 million (or $0.48 and $0.47 per basic and diluted share) against $1.08 billion (or $1.19 and $1.15 per basic and diluted share) for the same period of fiscal 2021.
Financial Guidance
CRM also reported the financial guidance for the upcoming period. It expects to generate revenue in the range of $7.224 billion to $$7.234 billion during the fourth quarter of fiscal 2022. For the complete fiscal year 2022, the company expects the revenue to stand between the range of $26.39 billion to $26.40 billion. The company estimated that the GAAP operating margin would increase 1.8% during the complete fiscal year 2022. The non-GAAP operating margin is estimated to increase by approximately 18.6% during the complete fiscal 2022.
Executive Commentary
Marc Benioff, Chair and CEO of CRM, while commenting on the results, said that the company delivered a strong performance once again. It shows that the company is growing into a more strategic enterprise than ever before. He said that the disciplined approach being adopted by the company would continue to deliver strong results even in the future.
Future Outlook for CRM
The last three months have seen CRM stock surge by more than 7%. Looking ahead, the stock appears to be in great shape to thrive upon its recent success. It is expected to perform outstandingly well in the upcoming months.
