Shares of workplace software company Salesforce fell 15% in after-market trading on Wednesday as sales and earnings forecasts missed forecasts.
Salesforce said it forecast second-quarter earnings per share of $1.31 to $1.33 a share, well below the consensus estimate of $1.47 a share. Quarterly revenue is forecast at between $9.2 billion and $9.25 billion, below analysts’ expectations of $9.37 billion.
The company also lowered its estimate for full-year subscription sales growth to slightly “below” 10%, from the 10% it forecast in February.
Marc Benioff, chief executive, said Salesforce is “at the beginning of a huge opportunity” with its deployment of artificial intelligence tools.
