Posted 2/28/2024, 10:44:00 PM
Salesforce Stock Drops Despite Q4 Beat, As Weak Outlook Offsets Dividend, Buybacks
- Salesforce shares fell despite beating Q4 earnings estimates and announcing a $10B stock buyback program and first ever dividend
- Q4 revenue beat expectations at $9.29B, up 11% year-over-year; Q4 adjusted EPS also topped estimates at $2.29
- Issued disappointing guidance for Q1 and full-year FY2025, with revenue outlooks below Wall Street consensus
- Initiated quarterly dividend of $0.40 per share, announced additional $10B for stock repurchase program
- Headcount decreased 8.5% in FY2024; expects modest headcount growth in FY2025 focused on AI and cloud R&D