Salesforce.com Lifts FY21 Outlook

(RTTNews) - Salesforce.com Inc (CRM) Tuesday lifted its financial outlook for the full year 2021.

Looking forward, the cloud-based enterprise software marker now expects adjusted earnings of $3.72 to $3.74 per share and revenues of $20.7 billion to $20.8 billion. Analysts polled by Thomson Reuters currently estimate earnings of $2.96 per share and revenues of $20.07 billion for the period.

Previously, the company expected earnings of $2.93 to $2.95 per share and revenues of about $20.0 billion.

For the third quarter, Salesforce expects adjusted earnings of $0.73 to $0.74 per share and revenues of $5.24 billion to $5.25 billion. Analysts currently estimate earnings of $0.76 per share on revenues of $5.01 billion.

The San Francisco, California-based company's second-quarter profit was $2.63 billion or $2.85 per share, up from $91 million or $0.11 per share last year.

Excluding items, Salesforce's adjusted earnings were $1.33 billion or $1.44 per share for the period. Analysts expected earnings of $0.67 per share.

The company's revenue for the quarter rose 28.8% to $5.15 billion from $4.00 billion last year. Analysts had a consensus revenue estimate of $4.90 billion.