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Kiplinger
Kiplinger
Business
Joey Solitro

Salesforce Stock Plunges on Q1 Revenue Miss, Soft Outlook

Salesforce blue cloud logo on display at the Mobile World Congress in Barcelona 2024.

Salesforce (CRM) stock plunged more than 20% in early trading Thursday, easily making it the worst Dow Jones stock of the day. The slide comes after the software-as-a-service (SaaS) provider came up short of revenue expectations for its fiscal first quarter and issued a soft outlook for the second quarter.

In the three months ended April 30, Salesforce's revenue was up 11% year-over-year to $9.13 billion and its earnings per share (EPS) increased 44.4% to $2.44.

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