Salesforce Inc (NYSE:CRM, ETR:FOO) is expected to report more than a 10% year-over-year jump in revenue for the first quarter as the firm benefitted from demand for its AI-powered cloud solutions despite reduced software spending by small and medium-sized enterprises amid the challenging macroeconomic environment.
The company will hand down its first quarter fiscal 2025 financial results after the stock market closes on Wednesday, May 29.
It has guided 11% year-over-year revenue growth for the first quarter, expecting revenue in the range of $9.12 billion to $9.17 billion.
It expects adjusted earnings per share (EPS) between $2.37 to $2.39.
Wall Street analysts expect results in line with the company’s guidance of revenue of $9.14 billion and EPS of $2.38.
Analysts expect Subscription and Support revenue of $8.52 billion and Professional Services revenue of $609.4 million.
Shares of Salesforce closed at about $272 on Friday. The stock has gained about 6% in the year to date.