Crm Shares Hit Hard By Soft Guidance

Salesforce Stock Plunges After Disappointing Earnings

CRM Shares Hit Hard by Soft Guidance

Investors Unimpressed by Earnings and Revenue Miss

Salesforce Inc. (CRM) shares are taking a nosedive today after the cloud software giant posted disappointing results in its first quarter earnings report. The company's revenue and earnings both fell short of analyst expectations, and its guidance for the rest of the year was also weak. As a result, CRM shares have plunged more than 10% in pre-market trading.

Salesforce's revenue for the quarter came in at $7.41 billion, up 24% year-over-year but below the $7.46 billion that analysts had been expecting. The company's earnings per share were $0.98, up 18% year-over-year but also below the $1.00 that analysts had been expecting.

Salesforce's guidance for the rest of the year was also disappointing. The company forecast that its revenue for the full year will be between $29.1 billion and $29.3 billion, below the $29.4 billion that analysts had been expecting. The company also forecast that its earnings per share for the full year will be between $4.62 and $4.64, below the $4.69 that analysts had been expecting.

Investors are unimpressed with Salesforce's results and guidance. The company's shares have plunged more than 10% in pre-market trading, and they are likely to continue to fall when the market opens.