04:53 PM EDT, 05/29/2024 (MT Newswires) -- Salesforce ( CRM ) late Wednesday reported revenue that fell short of Wall Street estimates and offered a downbeat outlook for the ongoing three-month period, though earnings topped expectations.

Revenue gained 11% to $9.13 billion, but fell short of the $9.15 billion consensus compiled by Capital IQ. Adjusted per-share earnings rose to $2.44 during the three months ended April 30 from $1.69 a year earlier, topping the Street view of $2.38.

Shares were down 18% in after-hours trading.

Subscription and support revenue gained 12% to $8.59 billion, while professional services and other fell to $548 million from $605 million.

For the current quarter, Salesforce ( CRM ) projects adjusted EPS of $2.34 to $2.36 on revenue between $9.2 billion and $9.25 billion. The Street's view is $2.40 and $9.34 billion, respectively.

Salesforce ( CRM ) said it continues to expect fiscal 2025 revenue at $37.7 billion to $38 billion. The company now forecasts adjusted EPS of $9.86 to $9.94, up from the prior $9.68 to $9.76 outlook given in February. Analysts expect normalized EPS of $9.80 on sales of $38.01 billion for the full year.

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