The stock fell 0.43% to $160.88 in after-hours trading, after having risen 0.34% in regular hours.
Adjusted earnings per share for the third quarter of 2019 came in at 75 cents, beating Wall Street estimates of 67 cents and growing 23%. Revenue was $4.5 billion, beating analysts estimates of $4.44 billion and growing 33% year-over-year. Subscription and support revenue, which account for the majority of the company's revenue, was $4.24 billion, beating estimates of $4.161 billion and growing 32%. Billings were $3.886 billion, beating estimates of $3.808 billion.
"We're now on track to double our revenue in five years," said CEO and Chairman Marc Benioff. "With Customer 360, only Salesforce is providing companies with a single source of truth, bringing them even closer to their customers across every touchpoint."
Revenue guidance for fiscal year 2020 beat analysts forecast, but 2021 revenue guidance was weak. The company expects 2020 revenue to be between $16.99 billion and $17 billion, beating analysts forecast of $16.92 billion. But the company expects 2021 revenue of between $20.8 billion and $20.9 billion, missing analysts hopes for $20.95 billion. Salesforce is looking for 2020 adjusted EPS of between $2.89 and $2.90, better than analysts expectations of $2.86.
The stock is up 19% year-to-date.