Salesforce (NYSE: CRM) has delivered impressive gains in 2024, but its most significant surge came during the extended trading session between Tuesday, December 3, and Wednesday, December 4.
After climbing 29.40% year-to-date (YTD) and adding 0.13% during the regular session to close at $331.43, CRM shares soared by 12.54% after hours. If the stock holds its post-session price of $373, Salesforce will open up 45.63% YTD—a remarkable performance.
Salesforce reported revenue of $9.44 billion, exceeding expectations of $9.35 billion by about 1%. The company’s operating margin also improved significantly, rising to 20% from 17.2% in Q3 2023.
Free cash flow margin showed even greater growth, jumping from 8.1% in Q2 2024 to an impressive 18.8% in the latest quarter.
However, not all metrics met expectations. Earnings per share (EPS) came in slightly below the forecast of $2.45, at $2.41, and guidance for Q4 revenue was set at $10 billion, just shy of the $10.05 billion consensus.
Despite these misses, investors focused on the strong positives, as reflected in the extended session trading, where the market reaction was overwhelmingly favorable.