Salesforce to adopt Financial Accounting Standards Board accounting standards; adjusts Q1 and FY19 guidance to reflect new standards (116.30)
- Co intends to adopt Financial Accounting Standards Board accounting standards ASC 606 and ASC 340-40.
- To reflect new accounting, co raised guidance for Q1 (Apr), sees EPS of $0.46-0.47 from $0.43-0.44 vs. $0.44 Capital IQ Consensus Estimate; sees Q1 (Apr) revs of $2.935-2.945 bln from $2.925-2.935 bln vs. $2.93 bln Capital IQ Consensus Estimate.
- Co raised guidance for FY19 (Jan), sees EPS of $2.25-2.27 from $2.02-2.204 vs. $2.04 Capital IQ Consensus Estimate; sees FY19 (Jan) revs of $12.66-12.71 bln from $12.60-12.65 bln vs. $12.68 bln Capital IQ Consensus Estimate.