Salesforce.com, rumored as a buyout target, showed why late Wednesday as the cloud CRM specialist reported another quarter of growth that easily outpaced larger rivals SAP and Oracle. The customer relationship management software maker’s Q1 earnings per share minus items rose 45% vs. a year earlier, to 16 cents. That beat the analyst consensus of 14 cents, though it was a big slowdown from Q4’s 100% jump. Revenue grew 23%, to $1.51
Yahoo (YHOO) stock sold off hard just before the closing bell Tuesday after a report that the Internal Revenue Service could change a rule change that might jeopardize the Web portal’s plan to hold a tax-free spinoff of its shares in China Internet giant Alibaba Group. The potential change would affect the IRS’s rules for spinoffs of trades or businesses that are small compared with a company’s other assets, according to a Bloomberg report late
Tencent Holdings reported better-than-expected first-quarter earnings Wednesday, with the Chinese Internet giant’s online advertising revenue more than doubling on mobile ads. Earnings per share minus items of 12 cents beat analyst forecasts by a penny, as polled by Thomson Reuters. Net profit rose 7%, a slowdown from Q4’s 50% jump. Revenue of $3.61 billion was up 22% in local currency and topped the consensus estimate of $3.56