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Friday, 24 August 2012 - Salesforce third-quarter forecast disappoints, shares drop |
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      Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Breakingviews Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Video Reuters TV Reuters News Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Naked prince pics ban reveals chastened British press 9:31am EDT Microsoft rolls out first new logo in 25 years 12:19pm EDT Tattoo infections in U.S. linked to contaminated ink 22 Aug 2012 Storm Isaac moves near Puerto Rico, seen becoming hurricane | 5:51pm EDT Data point to slow pace of healing in economy 2:21pm EDT Discussed 138 Obama’s lead over Romney grows despite voters’ pessimism 122 Romney to announce vice presidential choice Saturday 94 Analysis: Are Israelis tough enough for a long war with Iran? Sponsored Links Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography.  See more | Photo caption  Famous Canadians Justin Bieber, Carly Rae Jepsen, Jim Carrey and Rachel McAdams and among a plethora of famous Canadian entertainers.  Slideshow  "Hill of Horror" The mining community gathers at a hill dubbed the "Hill of Horror" during a memorial service for miners killed during clashes.  Slideshow  Salesforce third-quarter forecast disappoints, shares drop Tweet Share this Email Print Related News HP posts mega-loss after EDS writedown 10:44am EDT UPDATE 3-HP posts mega-loss after EDS writedown Wed, Aug 22 2012 Dell's outlook disappoints as PC market falters Wed, Aug 22 2012 Best Buy suspends profit outlook, share buybacks Tue, Aug 21 2012 Lowe's misses estimates, lags Home Depot Mon, Aug 20 2012 Analysis & Opinion Daniel Loeb goes long Chesapeake bonds; leaves activism to others Related Topics Tech » Hot Stocks » Asian Markets » Media » SAN FRANCISCO | Thu Aug 23, 2012 5:23pm EDT SAN FRANCISCO (Reuters) - Enterprise software provider Salesforce.com Inc issued a weak third-quarter earnings outlook on Thursday that raised investor concerns about heightened competition from rivals and helped push its shares 5 percent lower in after-hours trade. The San Francisco-based company beat analysts' estimates for fiscal second-quarter profit and revenue. But it forecast third-quarter earnings of 31 or 32 cents per share, short of the 34 cents expected by analysts. A price war is cutting into the software maker's margins as it faces competition from Oracle Corp and SAP for big corporate clients and Citrix Systems Inc with smaller businesses, said Global Equities Research analyst Trip Chowdhry. "The competitive environment is getting more intense," Chowdhry said. San Francisco-based Salesforce reported a net loss of $9.9 million, or 7 cents a share, for its second quarter, ended July 31, double the $4.3 million, or 3 cents a share, loss from a year earlier. Excluding certain items, it earned 42 cents a share, beating the 39 cents expected on average by Wall Street, according to Thomson Reuters I/B/E/S. Chief Executive Marc Benioff, a former top executive at Oracle, has invested heavily in recent quarters to expand his company's social media offerings. Earlier this month, Salesforce closed its $689 million acquisition of Buddy Media, a social media marketing platform. Shares of Salesforce slid 5.3 percent after hours to $139 after closing at $146.77 on the New York Stock Exchange. (Reporting By Gerry Shih; Editing by Steve Orlofsky and Tim Dobbyn) Tech Hot Stocks Asian Markets Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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