Salesforce.com Lifts FY21 Outlook
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.
Intuit Inc. Q4 adjusted earnings Beat Estimates
Below are the earnings highlights for Intuit Inc. (INTU):
-Earnings: $445 million in Q4 vs. -$44 million in the same period last year.
-EPS: $1.68 in Q4 vs. -$0.17 in the same period last year.
-Excluding items, Intuit Inc. reported adjusted earnings of $477 million or $1.81 per share for the period.
-Analysts projected $1.05 per share
-Revenue: $1.82 billion in Q4 vs. $0.99 billion in the same period last year.
Urban Outfitters Inc. Earnings Fall In Q2
Urban Outfitters Inc. (URBN) revealed a profit for second quarter that fell from last year.
The company’s bottom line totaled $34.40 million, or $0.35 per share. This compares with $60.32 million, or $0.61 per share, in last year’s second quarter.
Analysts had expected the company to earn -$0.40 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 16.5% to $803.27 million from $962.33 million last year.
Urban Outfitters Inc. earnings at a glance:
-Earnings (Q2): $34.40 Mln. vs. $60.32 Mln. last year.
-EPS (Q2): $0.35 vs. $0.61 last year.
-Analysts Estimate: -$0.40
-Revenue (Q2): $803.27 Mln vs. $962.33 Mln last year.
Carnival’s Princess Cancels Some World Cruises in Early 2021
Carnival Corp.’s Princess line canceled some early 2021 voyages, the latest sign that the Covid-19 pandemic is likely to weigh on the cruise industry for many more months.
The cancellations affect world cruises on the Island Princess from North America and some South America voyages on the Pacific Princess, the companysaid Tuesday. The actions reflect border and port-access restrictions, according to Princess.
The cruise industry shut down in mid-March after a series of high-profile and deadly outbreaks at sea. Among the myriad questions facing the industry is where it can take passengers once cruises resume. Carnival is dipping its toe back into the water with a few European voyages next month, including some so-called cruises to nowhere that will leave from German ports, sail around for a while and return.
But a world cruise could present a whole new set of logistical challenges in the Covid-19 environment.
Carnival shares were down 1.3% in after-market trading following the announcement.
Earlier Tuesday, Carnival’s Cunard line said it would extend its pause in cruise operations until next year. Its sailings, starting with the Queen Elizabeth, will resume in March.
Autodesk Lifts FY21 Earnings Outlook
Autodesk Inc. (ADSK) Tuesday lifted its earnings outlook for the full year 2021.
Looking forward to the full year 2021, the software company now expects full-year adjusted earnings of $3.72 to $3.90 per share, up from prior outlook of $3.52 to $3.90 per share. Analysts polled by Thomson Reuters currently estimate earnings of $3.78 per share for 2021.
For the third quarter, Autodesk expects earnings of $0.91 to $0.97 per share and revenues of $930 million to $945 million. Analysts currently estimate earnings of $0.95 per share on revenues of $939.13 million.
The San Rafael, California-based company reported second-quarter profit of $98.2 million or $0.44 per share, up from $40.2 million or $0.18 per share last year.
Excluding items, adjusted earnings were $218.0 million or $0.98 per share for the period. Analysts expected earnings of $0.90 per share.
Revenues for the quarter grew 14.6% to $913.1 million from $796.8 million last year. Analysts had a consensus revenue estimate of $899.25 million.
“We delivered a strong second quarter as a result of our resilient business model and strategic nature of our products,” said CEO Andrew Anagnost. “Our cloud-based solutions are helping our customers stay productive in the current environment, and have resulted in expanded relationships and usage of our products. I am very proud of our team as we continue to deliver on our long-term strategic goals, and remain confident in our growth drivers and fiscal 2023 targets.”
NZX to Resume Trading Wednesday After Cyber Attack Halted Market
New Zealand’s stock exchange will resume normal trading Wednesday after a cyber attack halted trading late Tuesday.
Exchange operator NZX said it experienced “a volumetric distributed denial of service attack from offshore via its network service provider” which impacted connectivity and prompted it to halt trading shortly before 4 p.m. Tuesday in Wellington, according to a statement. The systems impacted include NZX websites and the announcements platform. NZX is a customer of Spark New Zealand.
“A DDos attack aims to disrupt service by saturating a network with significant volumes of internet traffic,” NZX said. “The attack was able to be mitigated and connectivity has now been restored.”
The S&P/NZX-50 benchmark index was nearing a record high when the incident occurred.