Earnings Recap – March 1st
Salesforce, the cloud company, reported their fourth quarter earnings after the market closed. They saw a loss of 3 cents per share, but revenue rose by 26 percent to $7.33 billion. Investors were pleased to see that the acquisition of Slack is starting to pan out well for Salesforce, sending their share prices higher.
Target also announced their fourth quarter earnings on Tuesday, and the holiday season was positive for them. Store traffic increased by 8.1%, leading to a 9.4% increase in revenue year over year to $31 billion. Along with that, earnings per share increased by 19 percent to $3.19, crushing Wall Street expectations. Target warned about this upcoming quarter, but nonetheless it was a positive earnings report that made investors happy.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.