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5/28, 10:08 PM (Source: TeleTrader)
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Salesforce's revenue at $4.9B in Q1, up 30% YoY

American cloud-based software company Salesforce reported on Thursday its revenue in the first quarter of 2020 at $4.9 billion, which is an increase of 30% compared to the same period last year. The firm's net income stood at $99 million, falling from $392 million in the same quarter in 2019.

Meanwhile, Salesforce's diluted earnings per share were at $0.11, which marks a decrease of 77.5% in comparison to last year's first trimester.

"Our results, amidst this global crisis, demonstrated our ability to execute at speed, innovate at scale and the strength of our business model," the company's CEO Marc Benioff said. "The pandemic showed us that digital is an imperative for every company, and we're confident Salesforce will continue to accelerate as we bring our customers into the new normal."

Salesforce stocks were down 3.56% in after-hours trading.

Breaking the News / JR