Giant Tech stock under pressure:, inc. (NYSE: CRM)

Free $100 Forex No-Deposit Bonus, inc. (NYSE: CRM) stock lost over 3.8% in the pre-market session of 29th May, 2020 (Source: Google finance) after the company posted weaker outlook for fiscal 2021 compared to analysts’ estimates. Due to COVID-19 impacts, the company has lowered its revenue guidance, GAAP earnings per share guidance, non-GAAP earnings per share guidance, and operating cash flow guidance previously provided on February 25, 2020 for its full fiscal year 2021. Remaining performance obligation ended the first quarter of 2021 was at approximately $29.3 billion, which represents an increase of 18% year-over-year. Current remaining performance obligation ended the first quarter at approximately $14.5 billion, which represents an increase of 23% year-over-year, 24% in constant currency. The company has generated Cash from operations for the first quarter of $1.86 billion, which represents a decrease of 5% year-over-year. Total cash, cash equivalents and marketable securities ended the first quarter of 2021 at $9.80 billion.

CRM in the first quarter of FY 21 has reported the adjusted earnings per share of 70 cents, while the adjusted revenue growth of 31 percent to $4.91 billion in the first quarter of FY 21, missing the analysts’ estimates for revenue by 0.28%. Subscription and support revenues for the quarter grew 31% yo $4.58 billion year-over-year. Professional services and other revenues for the first quarter rose 20% to $290 million year-over-year.

The company expects 2021 profit, excluding some items, to be in the range of $2.93 to $2.95 a share, compared with analysts’ projection of $3.14. The company expects 2021 sales to be $20 billion, while the analysts’ estimates the revenue to be of $20.7 billion. Fiscal 2020 Operating Cash Flow growth is expected to be in the range of approximately 10% to 11%

For the second quarter of 2021, the company expects the revenue to be in the range of $4.89 Billion – $4.90 Billion, which represents approximately 22% to 23% year-over-year growth. The company expects Q2 FY21 Current Remaining Performance Obligation growth to be in the range of approximately 16% to 17% year-over year

Meanwhile, in the second fiscal quarter, the company had launched, which is new technology solutions and resources to underpin business and community leaders around the world reopen safely, re-skill employees and respond efficiently. has received enormous interest from businesses and governments and deepened partnerships with the world’s top system integrators and technology partners.

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