Salesforce's (NYSE: CRM) stock price plunged 20% on May 30 after the company released its latest earnings report, marking its steepest one-day decline in 20 years. For the first quarter of fiscal 2025, which ended on April 30, the cloud software giant's revenue rose 11% year over year to $9.13 billion but missed analysts' estimates by $40 million. That marked its first top-line miss since 2006. Its adjusted EPS increased 44% to $2.44 and cleared the consensus forecast by $0.07.
Salesforce followed up that mixed report with soft guidance for the second quarter and the rest of the year. Let's see why this tech giant's growth is cooling off, and if its post-earnings plunge represents a buying opportunity for patient investors.
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