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Earnings Results: Salesforce earnings top Street estimates but shares back off record

November 22, 2017

Salesforce.com Inc. shares slipped Friday, after the customer-relationship management software company topped Wall Street estimates for the latest quarter, but provided a fourth-quarter outlook that missed consensus estimates for earnings while topping those for revenue.

Salesforce CRM, -1.91% shares were down 2% at $106.64 in morning trade, after closing at a record $108.80 on Thursday. Since the company’s Dreamforce convention earlier in the month, shares have closed at eight record highs in the past 12 sessions, and are up 59% for the year, compared with the 27% gain in the Nasdaq Composite Index COMP, +0.04% and a 16% gain for the S&P 500 SPX, -0.06%.

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