Salesforce Inc (NYSE:CRM, ETR:FOO) shares jumped 10% on Wednesday morning after the customer relationship management software giant posted third-quarter revenue above market expectations.
It reported revenue of $9.44 billion, up 8% year-over-year and ahead of estimates of $9.34 billion. This included Subscription and Support revenue of $8.88 billion, up 9% from the year-ago quarter.
Earnings per share (EPS) of $2.41, however, fell short of the $2.43 expected.
The company’s fourth quarter and full year revenue and profit guidance were on the light end.
Salesforce guided Q4 revenue in the range of $9.9 billion to $10.1 billion, on the low end of the consensus of $10.1 billion. EPS is expected to be in the range of $2.57 to $2.62, below estimates of $2.65.
The company raised the low end of its full year revenue guidance to $37.8 billion to $38 billion, at the midpoint in line with Street estimates of $37.9 billion. It expects EPS between $9.98 and $10.03, missing estimates of $10.09.
Shares of Salesforce traded up 4.9% at about $331 afterhours.