Is their more momentum coming from, inc. (NYSE: CRM)

Free $100 Forex No-Deposit Bonus, inc. (NYSE: CRM) stock rose over 5.1% on 5th June, 2019 as the company posted better than expected results for the first quarter of FY 20 as customers looking to rein in costs boosted demand for its Sales Cloud product. Salesforce’s net income rose to US$392 million in the first quarter ended April 30, from US$344 million, a year earlier. The operating cash flow was of $1.97 billion, up 34% year-over-year. CapEx for the quarter was $159 million, leading to free cash flow of $1.81 billion, up 34% over Q1 of last year. The remaining performance obligation representing all future revenues under contracts ended the first quarter at approximately $24.9 billion, up 22% over the last year.

Is their more momentum coming from, inc. (NYSE: CRM)

CRM in the first quarter of FY 20 has reported the adjusted earnings per share of 93 cents, beating the analysts’ estimates for the adjusted earnings per share of 61 cents. The company had reported the adjusted revenue growth of 24 percent to $3.74 billion in the first quarter of FY 20, beating the analysts’ estimates for revenue of $3.68 billion. The revenue from Sales Cloud, rose 11per cent to US$1.1 billion in the first quarter. Revenue for the company’s platform-as-a-service jumped 50%, to $842 million, and Marketing and Commerce Cloud rose 33%, to $561 million.

Moreover, the renewal rate remained healthy in Q1 and dollar attrition continues to remain below 10%. In fact, the attrition rate continued to improve modestly in the first quarter year-over-year similar to the year-over-year improvement in attrition that the company experienced last quarter in Q4 2019. On a constant-currency basis, cRPO was up 24% year-over-year after considering an FX headwind of more than $100 million.

For the second quarter ending in August, expects its per-share earnings to be in the range of 46 cents to 47 cents. For Q2, CRM expect revenues to be in the range of $3.94 billion to $3.95 billion and also expect cRPO approximately 20% to 21% year-over-year in the second quarter.

The company raised its full-year 2020 adjusted profit forecast to be in the range of US$2.88 to US$2.90 per share and revenue to be in the range of US$16.10 billion and US$16.25 billion. The analysts on average were anticipating a profit of US$2.66 per share on revenue of US$16.12 billion. The company expects to achieve the long-term organic target of $26 billion to $28 billion in FY 2023.

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