Salesforce corrects earnings expectations around Tableau deal
Salesforce.com Inc. (CRM) on Wednesday issued a series of "corrections" around the forecast it issued for its recently announced acquisition (http://www.marketwatch.com/story/salesforce-and-google-just-spent-billions-on-big-data-because-of-microsoft-2019-06-10) of Tableau Software Inc. (DATA). The company said it expects the deal to reduce fiscal 2020 adjusted earnings per share by 20 cents to 22 cents, rather than the 37 cents to 39 cents that Salesforce told investors to expect at the time of the deal announcement. Salesforce now expects fiscal 2020 adjusted EPS of $2.68 to $2.70, not $2.51 to $2.53. The new estimates reflect a fully diluted share count of about 840 million, instead of 900 million. Salesforce shares are up 0.5% in premarket trading Wednesday and they've climbed 10% so far this year, as the S&P 500 has gained 15%.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 12, 2019 08:49 ET (12:49 GMT)
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