SalesforceWall Street was pleasantly surprised by Tuesday’s fiscal third quarter earnings. They beat Wall Street estimates on sales and earnings. After earnings guidance fell below expectations, shares plunged by more than 6% during extended trading.

Salesforce named current President and COO Bret TaylorMarc Benioff, the current CEO, will be Taylor’s co-CEO. Benioff stated in a statement, that Taylor would be able to lead the company into “the next chapter.”

Extended trading saw Salesforce stock fall by more than 6%

Below are the results of Refinitiv’s expectations for how this company performed.

• Earnings: 1.007 per share adjusted vs 92 cents expected per share. This is 27% more year-over-year.
• Revenue:$6.86 Billion vs $6.80 Billion expected

From $5.42 billion a year ago, sales increased 27%. It expects revenue to be between $7.22 and $7.23 Billion in the fourth fiscal quarter. This is higher than its prior guidance and on par with analysts’ expectations of $7.22 trillion.

Salesforce stated that earnings per share would range between 72 to 73 cents for December, which is lower than Refinitiv analysts’ expectations of 81cents.

The company’s core product, Sales Cloud which salespeople use for tracking leads and opportunities, saw $1.54 Billion in sales last year, an increase of 17% over the previous year. Service Cloud, Salesforce’s business unit, saw sales increase by more than 20% to $1.66billion.

Although the Platform and Other units reported sales of $1.27 Billion during the quarter, the company stated that it had transferred sales from Tableau and Mulesoft to its Data unit which saw sales totaling $900 M.

Salesforce acquired enterprise chat application Slack in July for more than $27 billion. Salesforce stated that Slack contributed $276 Million in revenue to its Platform unit. This previously reported Tableau sales and Mulesoft.