Ahead of its quarterly earnings report posted last night, Salesforce (CRM) shares gained 33.81% in the last three months. The software giant will open higher this morning in response to its strong third-quarter results.
Salesforce earned $2.41 a share as revenue grew by 8% Y/Y. Its net income of $1.5 billion is up by 25% Y/Y. Q4 revenue of $9.9 billion to $10.1 billion is within analyst projections. Despite issuing an outlook only meeting estimates, markets like the company’s operating and free cash flow growth.
In the e-commerce and retail segments, watch Best Buy (BBY) today. Shares peaked at over $100 in September, trending lower before Black Friday and Cyber Monday. Adobe Analytics reported record-breaking trends in the first 24 days of the holiday season that started on November 1. Consumers spent $77.4 billion online, up from 9.6% Y/Y. Retailers owe the sales growth to dragging out Black Friday sales throughout November.
Amazon (AMZN), trading close to its 52-week high, has more upside from here. The firm will continue to take the market share of physical retailers. In addition, its cloud business is thriving. The strong AWS business suggests that Microsoft (MSFT) and Alphabet (GOOG) are also good businesses to own.
