Salesforce has disappointed investors by posting earnings below expectations and forecasting sales for the next quarter at the lowest level of growth in more than two decades.
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Despite this, the CRM giant said it would recover from the setback and would stick to its sales forecasts for the 2025 financial year.
For the first quarter ended April 30, Salesforce [PDF] reported revenue of $9.13 billion, up 11 percent from the same period last year. It reported a net profit of $1.5 billion for the quarter, up from $199 million in the first quarter last year.
However, the company's first offense, at least according to investors, was reporting revenue that fell short of the $9.18 billion that analysts expected. More seriously, revenue for the next quarter, according to the company's forecast, would be between $9.2 billion and $9.25 billion, an increase of about seven to eight percent over the previous year. Commentators were quick to point out that this would be Salesforce's lowest quarterly growth since the SaaS company was founded in 1999.
