CRM

By Patrick Chu

Salesforce Inc. issued fourth-quarter revenue guidance on Wednesday that was about $900 million short of analysts'consensus. The customer-relations cloud software giant sees fourth-quarter earnings of 23 cents to 25 cents a share on revenue in the range of $7.93 billion to $8.03 billion, and adjusted earnings of $1.35 to $1.37 a share. Analysts had forecast adjusted earnings of $1.44 a share on revenue of $8.94 billion, according to Factset. Add to that, the surprise exit of co-Chief Executive Bret Taylor, who will leave on Jan. 31, leaving Marc Benioff as sole CEO once again. Chief Strategy Officer Gavin Patterson had already booked his departure on Jan. 31 as well. Salesforce shares slid 6.6% in after-hours trading.

Splunk Inc. boosted its full-year outlook for sales and cash flow, following third-quarter results that beat expectations. The data software company expects full-year sales of between $3.455 billion and $3.485 billion, up from a prior forecast for between $3.35 billion and $3.4 billion. Shares increased 8.2% in the after-hours session.

Okta Inc. guided for profitability for all of its next fiscal year. On the earnings conference call, Chief Financial Officer Brett Tighe Okta projects adjusted profits for the full year on revenue of $2.13 billion to $2.15 billion. Analysts expected adjusted losses of 30 cents a share on sales of $2.3 billion, according to Factset. Shares of the cyber identity cloud app climbed 13% in after hours.

Sturm, Ruger & Co. Inc. declared a special dividend of $5 a share payable on Jan. 5 and cited a current cash balance of $220 million. Shares of the gunmaker climbed 5.5% in the after-hours session.

Orthofix Medical Inc. said it received an unsolicited $23-a-share takeover offer from two private equity firms. The back surgery medical device maker said it will stick with its current deal to acquire SeaSpine Holdings Corp. in a $285 million stock swap because it's "unable to conclude" the latest offer is superior. Orthofix shares jumped 11% to $20 in after-hours trading.

Write to Patrick Chu at Patrick.Chu@WSJ.com

(END) Dow Jones Newswires

November 30, 2022 19:20 ET (00:20 GMT)

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