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Salesforce (CRM) Revenue First Quarter 2023

Marc Benioff, co-CEO of Salesforce.com Inc., will speak at a panel session at the World Economic Forum in Davos, Switzerland, on Tuesday, May 24, 2022.

Holly Adams | Bloomberg | Getty Images

Salesforce In the extended deal on Tuesday, shares rose 7% after enterprise software makers exceeded analysts’ expectations and reported first-quarter earnings that raised full-year earnings forecasts.

The company’s way is as follows.

  • Revenue: According to Refinitiv, the adjusted price of 98 cents per share is expected by analysts to be 94 cents per share.
  • Revenue: According to Refinitiv, it’s $ 7.41 billion, compared to what analysts expected at $ 7.38 billion.

Salesforce revenue increased 24% year-over-year in the quarter ended April 30th, according to the company. statement.. Net income was down 94% to $ 28 million. The company saw a decline in return on investment this quarter and an increase in sales and marketing costs.

According to Salesforce, revenue from Service Cloud for processing customer service inquiries was up about 17% to $ 1.76 billion. Revenue from the core Sales Cloud product for managing business opportunities contributed approximately 18% to $ 1.63 billion.

“We don’t think it’s having a significant impact on the wider economic world you’re in,” Salesforce co-founder and co-CEO Marc Benioff said in a conference call with analysts.

Salesforce in the quarter Said The integration of Sales Cloud, Service Cloud, and Marketing Cloud for Slack has started in beta. Salesforce acquired Slack for $ 27.1 billion in July..The company too publication Launch of SafetyCloud to hold face-to-face events during the quarter, and its official name changed From Salesforce.com Inc. to Salesforce Inc. Salesforce was founded in 1999 in the midst of the dot-com boom.

Salesforce is almost over with the dot-com bubble burst, Benioff said.

“I think it really affected us in 2001. We had monthly contracts, we didn’t have a proper cash flow structure and investors just didn’t give us money. We almost lost our business. Thanks to the changes at that time, it really strengthened our business and made us more durable overtime, “he said.

Salesforce after Russia invaded Ukraine in early March Said We have begun to end relationships with customers that have accumulated in Russia through resellers and other channels.

According to Salesforce, unearned revenue was $ 13.64 billion, primarily due to subscription billing. This figure was just below the Street Account consensus of $ 13.76 billion.

Regarding guidance, Salesforce said it expects adjusted second-quarter accounting revenue to be $ 1.01 to $ 1.02 and revenue of $ 7.69 billion to $ 7.70 billion. Analysts surveyed by Refinitiv expected adjusted earnings per share of $ 1.14 for revenue of $ 7.77 billion.

Salesforce has lowered its revenue guidance for the entire 2023 fiscal year, while increasing its profit perspective. Currently, adjusted revenue is $ 4.74 to $ 4.76 and revenue is $ 31.7 billion to $ 31.8 billion per share. Analysts surveyed by Refinitiv expected adjusted earnings per share to be $ 4.65 and revenue of $ 32.60 billion. Previously, Salesforce expected full-year revenues of $ 32 billion to $ 32.1 billion, while adjusted revenues per share of $ 4.62 to $ 4.64.

Despite off-hours movements, Salesforce shares have fallen about 36% since the beginning of the year, while the broader S & P 500 index has fallen 13% over the same period.

This is breaking news. Please come back here to check for updates.

look: Salesforce was born in the recession of 2001, said Chairman and Co-CEO Marc Benioff.

Salesforce (CRM) Revenue First Quarter 2023

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