Salesforce and Keurig Green Mountain released their latest earnings reports after closing bell tonight. Salesforce posted adjusted earnings of 21 cents per share and $1.71 billion in revenue, a 24% increase from last year. Analysts had been expecting earnings of 19 cents per share and revenue of $1.7 billion for the third quarter of fiscal 2016.
Keurig Green Mountain reported earnings of 85 cents per share on revenue of $1.04 billion. Analysts had been expecting earnings of 71 cents per share and $1.03 billion in revenue for the fourth quarter of fiscal 2015.
Yost Partners was up 0.8% for the first quarter, while the Yost Focused Long Funds lost 5% net. The firm's benchmark, the MSCI World Index, declined by 5.2%. The funds' returns outperformed their benchmark due to their tilt toward value, high exposures to energy and financials and a bias toward quality. In his first-quarter letter Read More
Salesforce posts a loss
Salesforce posted a GAAP loss of 4 cents per share. Subscription and support revenues increased 24% to $1.6 billion, while professional services and other revenues rose 22% to $116 million. The firm had $2.85 billion in deferred revenue on its balance sheet, a 28% increase from last year and a 30% increase in constant currency. Unbilled deferred revenue increased 24% to $6.7 billion.
For the fourth quarter, Salesforce expects revenue to be between $1.782 billion and $1.792 billion, which would represent a 23% to 24% increase year over year. The company expects a GAAP loss of 9 cents to 8 cents per share and non-GAAP earnings of 18 cents to 19 cents per share.
For the full year, Salesforce projects revenue of between $6.64 billion and $6.65 billion and GAAP losses of between 12 cents and 11 cents per share. The firm expects non-GAAP earnings of 74 cents to 75 cents per share.
Shares of Salesforce climbed by as much as 3.89% to $80.40 per share in after-hours trades tonight.
Keurig Green Mountain surges after earnings
Keurig Green Mountain posted GAAP earnings of 61 cents per share for the quarter. A 4% decline in equivalent servings volume and a 6% decline due to product mix drove the decline in pod sales, which fell to $861 million. Sales of brewers and accessories tumbled to $123.6 million as the company sold 1.9 million hot system brewers. A 20% decline in volume and a 10% decline due to product mix drove the sales decline on brewers.
For fiscal 2016, Keurig Green Mountain expects net sales growth to be flat to up in the low single digits on a currency neutral basis. The company expects non-GAAP earnings of between $3.25 and $3.45 for the year.
Shares of Keurig Green Mountain skyrocketed in after-hours trading, climbing by as much as 19.38% to $48.35 per share.