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Here's Why Salesforce Is Poised For Another $0.20 EPS Beat (NYSE:CRM)

Here's Why Salesforce Is Poised For Another $0.20 EPS Beat (NYSE:CRM)
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Cloud Stocks: Salesforce Defies Market Turbulence

Salesforce (NYSE: CRM) recently announced its third quarter results that continued to surpass market expectations. While its growth rate has slowed down, the market remains positive, and sent the stock soaring 8% to a 52-week high in the after-hours trading session. Salesforce's stock has climbed over 70% this year, significantly outperforming the Nasdaq which grew 36% in the year. Salesforce's Financials Salesforce's revenues for the third quarter grew 11% to $8.72 billion, at par with analyst estimates of $8.72 billion. Adjusted earnings of $2.11 per share were better than the market's forecast of $2.06 per share. By segment, Subscription and support revenues grew 13% to $8.14 billion. Professional services and other revenues fell 4% to $0.58 billion. Current remaining performance obligations grew 14% to $23.9 billion compared with estimates of $23.22 billion. For the fourth quarter, Salesforce forecast revenues of $9.18-$9.23 billion and an EPS of $2.25-$2.26. T ....

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