Home / Business and Economy / Salesforce Surges: Mixed Q3, Stronger Q4 Outlook
Salesforce Surges: Mixed Q3, Stronger Q4 Outlook
4 Dec
Summary
- Salesforce shares climbed over 5% after reporting mixed Q3 results but raising Q4 revenue guidance.
- UiPath's stock jumped 9% on strong Q3 earnings and revenue, exceeding analyst expectations.
- Discount retailer Five Below saw its stock rise 4% on blowout Q3 results, significantly beating estimates.
In after-hours trading, Salesforce experienced a significant boost, with shares rising more than 5%. This surge followed the company's release of mixed third-quarter financial results, which included earnings per share of $3.25 (excluding items) surpassing estimates, although revenue slightly missed consensus. However, Salesforce raised its full-year revenue outlook, signaling positive future performance.
UiPath, a provider of business automation software, saw its stock jump 9% post-market. The company reported third-quarter adjusted earnings of 16 cents per share and revenue of $411 million, both exceeding analysts' consensus estimates. In contrast, Snowflake's cloud-based data storage stock slid over 8% due to a slightly disappointing outlook for product revenue growth in the upcoming January quarter, despite beating top and bottom lines for its third quarter.
