Salesforce stock falls after weak forecast

Salesforce.com Inc. stock fell more than 3% in the extended session Monday, after the software company reported better-than-expected earnings but a disappointing forecast.

Salesforce CRM, -3.66% reported fiscal fourth-quarter net income of $362 million, which amounts to 46 cents a share, compared with $206 million, or 28 cents a share, in the year-ago period. Adjusted for items such as stock-based compensation, among other items, earnings were 70 cents a share, including a 17-cents-a-share benefit from tax adjustments.

The San Francisco-based company reported that revenue rose 26% to $3.6 billion. Salesforce reported billings of $6.42 billion, according to FactSet. Analysts surveyed by FactSet had estimated adjusted earnings of 55 cents a share on revenue of $3.56 billion.

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