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Salesforce (NYSE: CRM) 2Q20 Results: Quarter in Line/Beats Consensus, Strength from Marketing and Commerce, Raises Revenue Guidance

Executive Summary

  • Salesforce reported fiscal 2Q20 revenues of $4.00 billion, up 21.8% and in line with the $3.96 billion consensus estimate. Adjusted EPS was $0.66, down 6.9% year over year and beating the $0.47 consensus estimate.
  • Marketing and commerce cloud was the fastest-growing segment, growing 36.3% year over year, driven by strong subscription and support growth.
  • Salesforce adjusted fiscal 2020 guidance, raising revenue guidance to $16.75-16.90 billion (up 25-27% year over year) from $16.10-16.25 billion and updating adjusted EPS guidance to $2.82-2.84 (up 3% year over year).

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