Salesforce Just Crushed Profit Estimates and Gave Wall Street More Bull Ammo
Salesforce blew away Wall Street profit forecasts for the second quarter on Wednesday. Here's a quick analysis of the quarter.
Salesforce (CRM) - Get Report retains the title as the king of the cloud (or, a 'Cloud King' as TheStreet's founder Jim Cramer calls them)
The cloud computing giant smashed Wall Street profit forecasts on Wednesday. Second quarter earnings came in at 71 cents a share, beating forecasts for 47 cents a share. The company saw strength in all parts of its cloud business and within regions.
It will be hard to sell the news on the red-hot Salesforce after this type of quarter and ahead of Dreamforce in September. Shares ran up 47% year to date ahead of the results.
Salesforce is a holding in Jim Cramer's Action Alerts PLUS member club. The stock is also Real Money's 'Stock of the Day' on Thursday.
