Salesforce (CRM) is expected to swing back to profitability after posting a loss in the year-ago period when it reports fourth-quarter fiscal 2024 results after the closing bell Wednesday, with gains driven by growth across business lines and the company’s data cloud operations in particular, as it works to expand artificial intelligence offerings across different products and services.
Analysts expect Salesforce to report quarterly net income of $1.26 billion according to estimates compiled by Visible Alpha, a reversal from net losses of $98 million in the prior-year quarter due to restructuring costs. Diluted earnings per share (EPS) is forecast at $1.29, compared with a loss of 10 cents per share the year before. Revenue for the quarter is expected to rise 10% to an all-time high of $9.2 billion, though a 10% gain would represent the slowest revenue growth for Salesforce since it went public in 2004.
Salesforce announced its Einstein GPT, the first …