Cuentas Equity Warrant *W EXP 02/04/2026
Change company Symbol lookup
Select an option...
CUENW Cuentas Equity Warrant *W EXP 02/04/2026
UTRS Minerva Surgical Inc
PIXY ShiftPixy Inc
BCAN BYND Cannasoft Enterprises Inc
GLTO Galecto Inc
ERNA Eterna Therapeutics Inc
TANH Tantech Holdings Ltd
OMGA Omega Therapeutics Inc
INBS Intelligent Bio Solutions Inc
PAYX Paychex Inc

*Nasdaq FSI: *Deficient: Issuer Failed to Meet NASDAQ Continued Listing Requirements

Communication Services : Diversified Telecommunication Services | Small Cap Value
Company profile

Cuentas, Inc. is focused on the business of using fintech technology. The Company provides mobile and e-commerce services for delivering financial, prepaid debit and digital content services to the unbanked, underbanked and underserved Latino, Hispanic, and immigrant communities. The platform includes a Mobile Wallet (Wallet) and a Digital Store (the Cuentas Digital Store) and is linked with a Prepaid Mastercard which can be used for automated teller machine (ATM) withdrawals, online purchases, and in-person purchases. The Company operates in two segments: telecommunications, and General-Purpose Reloadable Cards (GPR). Its e-commerce distribution and mobile payments ecosystem will allow consumers to purchase the Cuentass line of digital products and services through a nationwide network of retailers that specifically serve the Company's target market. Its Prepaid GPR Card allows each account holder to have a personalized Cuentas Mastercard and an associated Cuentas Account.

Closing Price
Day's Change
0.00 (0.00%)
B/A Size
Day's High
Day's Low
(Heavy Day)

10-day average volume:

Salesforce predicts record earnings, but the stock is still falling

8:07 am ET June 1, 2023 (MarketWatch)

By Jeremy C. Owens

After leading Dow's gainers so far in 2023, Salesforce shares dip in after-hours trading despite forecast calling for record profit in second quarter and for the full year

Salesforce Inc. executives predicted record adjusted earnings in the second quarter and increased their guidance for record profit for the full year Wednesday, but shares still declined about 6% in after-hours trading.

Salesforce (CRM)has easily been the biggest gainer among Dow Jones Industrial Average components this year, increasing more than 65% amid a wave of activist-investor activity and Chief Executive Marc Benioff's pivot from focusing on revenue growth to expanding profit margins with layoffs and other cost cuts. The change in strategy has arrived after a pandemic revenue surge dissipated, as corporate customers look to moderate their spending on cloud software.

Benioff countered concerns about long-term revenue growth three months ago by promising record annual earnings more than 35% higher than Salesforce's previous all-time mark. On Wednesday, he boosted that view, and predicted record quarterly earnings in the current period.

Executives guided for second-quarter adjusted earnings of $1.89 to $1.90 a share on revenue of $8.51 billion to $8.53 billion, and increased their full-year adjusted-earnings forecast to range of $7.41 to $7.43, after guiding for $7.12 to $7.14 three months ago. Analysts on average were expecting second-quarter adjusted earnings of $1.70 a share on revenue of $8.5 billion, according to FactSet. Salesforce has never reported adjusted earnings higher than $1.74 a share, according to FactSet records.

Benioff is promising record profit even as the outlook for corporate spending has suffered, according to analysts.

"Customers are taking a more measured approach to spending plans over the next two years compared to the last two, with nearly 90% of survey participants planning to maintain or slow the growth rate of their Salesforce relationship," Stifel analysts wrote late last week regarding a survey of Salesforce customers, while maintaining a $240 price target and buy rating. "While margin expansion and cash flows remain the key focus of investors in the near term and we anticipate upside to expectations in F1Q, we believe the long-term growth potential of the business will once again enter the spotlight as we progress through the year."

Salesforce reported a fiscal first-quarter profit of $199 million, or 20 cents a share, on sales of $8.25 billion, up from $7.41 billion a year ago. After adjusting for stock compensation, restructuring and other costs, the cloud-software company reported earnings of $1.69 a share, up from 98 cents a share a year ago.

Analysts on average were expecting adjusted earnings of $1.61 a share on sales of $8.18 billion, according to FactSet. Shares declined more than 4% in after-hours trading immediately following the report, after a 2.1% increase to $223.48 in the regular session.

Benioff interview: Marc Benioff reminds Wall Street that 'this isn't my first recession'

A major question ahead is whether Salesforce will continue to cut costs, including more layoffs. After smaller rounds of layoffs last year, Benioff took the blame for over-hiring during the COVID-19 pandemic while axing roughly 8,000 workers in January, but analysts have still pondered whether more cuts would be on the way to get to the Salesforce co-founder's ambitious profit goals.

"In terms of cost-cutting, we are seeing a slowdown in overall activity as we believe the vast majority of the culling is now in the rear-view mirror as the margin story takes hold, and Salesforce is now in a balanced position of growth and profitability, we believe," Wedbush analyst Dan Ives wrote in a preview of the earnings last week, while maintaining a buy rating and increasing his price target to $230 from $220.

-Jeremy C. Owens

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones Newswires

June 01, 2023 08:07 ET (12:07 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2023 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2023. All rights reserved.