NEW YORK (TheStreet) -- Shares of Salesforce.com (CRM) - Get Report were falling 5.8% to $74.81 in after-hours trading on Wednesday after the company posted solid results for the 2017 fiscal second quarter, but cut its full-year profit view.
After today's market close, the San Francisco-based provider of cloud computing solutions lowered its adjusted earnings per share forecast to range between 93 cents and 95 cents.
Previously, the company guided earnings per share between $1 and $1.02, the Fly noted. Analysts are looking for earnings of 95 cents per share for fiscal 2017.
But Salesforce raised its full-year revenue outlook to $8.275 billion to $8.325 billion from its prior view of $8.16 billion to $8.2 billion, the Fly said. Analysts are expecting revenue of $8.31 billion for the full year.
For the fiscal third quarter, Salesforce projects adjusted earnings per share between 20 and 21 cents on revenue of $2.11 billion to $2.12 billion. Analysts are estimating 24 cents per share on revenue of $2.13 billion for the current period.
Salesforce reported adjusted earnings of 24 cents per diluted share for the fiscal second quarter, topping analysts' expectations of 22 cents per share.
Revenue jumped 25% to $2.04 billion year-over-year, above Wall Street's estimates of $2.02 billion.
More than 6.01 million of the company's shares changed hands today vs. its average 30-day volume of 4.06 million shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth.
But the team also finds that the company's return on equity has been disappointing.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: CRM