Salesforce shares rally after beating Wall Street's estimates

Shares of Salesforce.com Inc. climbed in Wednesday's extended session after the cloud software company posted quarterly results ahead of Wall Street's estimates. Salesforce reported its first-quarter earnings rose to $38.8 million, or 6 cents a share, from $4.1 million, or a penny a share, a year earlier. On an adjusted basis, the company earned 24 cents a share. Revenue grew to $1.78 billion from $1.41 billion. Analysts surveyed by FactSet had forecast earnings of 23 cents a share on revenue of $1.89 billion. Salesforce projected second-quarter adjusted earnings per share of 24 cents to 25 cents and $1 to $1.02 for 2017. It also forecast second-quarter revenue in a range of $2.005 billion to $2.015 billion. Salesforce jumped more than 5% after hours.

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