Salesforce stock is taking a hit today after lighter guidance in yesterday’s earning’s report

May 29, 2020 - TechCrunch
Financial Results

In spite of a positive quarter with record revenue that beat analyst estimates, Salesforce stock was taking a hit today because of lighter guidance. Wall Street is a tough audience.

The stock was down $8.29/share or 4.58% as of 2:15 pm ET.

The guidance, which was a projection for next quarter’s earnings, was lighter than what the analysts on Wall Street expected. While Salesforce was projecting revenue for next quarter in the range of $4.89 to $4.90 billion,...