Salesforce (CRM) Shares in Salesforce plunged by over 16% in pre-market trading after the business software maker reported weaker-than-expected revenue and issued guidance that trailed Wall Street’s expectations.
Salesforce, Inc. (CRM)View quote details NYSE - Nasdaq Real Time Price (USD) 248.06-4.84(-1.91%) At close:4:00PM EDT 246.00-2.06 (-0.83%) Pre-market: 8:23AM EDT
Add to watchlist 1D5D1M6MYTD1Y5YMaxFull screen Salesforce called for adjusted earnings per share in the current quarter of $2.34 to $2.36 on $9.2bn to $9.25bn in revenue. Analysts had expected $2.40 in adjusted earnings per share on $9.37bn in revenue.
Net income jumped to $1.53bn, or $1.56 per share, from $19m, or 20 cents per share a year ago.
The company's first-quarter adjusted earnings per share jumped 44% to $2.44, higher than expectations of $2.38.
Salesforce left its fiscal 2025 revenue forecast unchanged, but cut its operating margin expectations to 19.9% from its prior forecast of around 20.4%.
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Chief executive officer Marc Benioff underscored the recent emphasis on profit and the long-term potential of artificial intelligence as positive for the company.
“We’re incredibly well positioned to help companies realise the promise of AI over the next decade,” Benioff said in a statement.
Dr Martens (DOCS.L) Dr Martens is embarking on a major cost-cutting plan after the bootmaker was hit by plummeting demand in the US.
Dr. Martens plc (DOCS.L)View quote details LSE - Delayed Quote (GBp) 68.65-0.65(-0.94%) As of 1:09PM BST.Market open.
Add to watchlist 1D5D1M6MYTD1Y5YMaxFull screen The company said global pre-tax profits in the 12 months to March fell 43% to £97m due to a slump in its US wholesale business.
Revenue fell 12% to £877m against expectations of £900m, while operating profit plunged by a third to £122m, compared with forecasts of £125m.
The London-based company is aiming to save as much as £25m in the upcoming financial year. The firm explained that it would achieve these cost savings through improvements in "organisational efficiency and design, better procurement and operational streamlining."
Dr Martens has been struggling to drive demand among US consumers, its biggest market, in recent years.
Kenny Wilson, chief executive of Dr Martens, said: "We are clear that we need to drive demand in the USA to return to growth in (financial year 2026) onwards and are executing a detailed plan to achieve this, with refocused and increased USA marketing investment in the year ahead.
“We are also announcing a cost-action plan across the group, targeting savings of £20m to £25m. I am confident that the actions we are taking as we enter this year of transition will put us in good shape for the years ahead.”
Wilson is stepping down before the end of the financial year to be replaced by Ije Nwokorie, currently chief brand officer at the business.
