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Salesforce (CRM) Revenue for the First Quarter of 2022

Salesforce CEO Marc Benioff said:

Adam Jeffrey | CNBC

Salesforce Shares rose 5% on Thursday’s long-term trading after cloud software makers released higher-than-expected earnings and guidance from analysts.

Here’s how the company works.

  • Revenue: According to Refinitiv, the adjusted price is $ 1.21 per share, compared to the analyst’s estimate of 88 cents per share.
  • Revenue: According to Refinitiv, it’s $ 5.96 billion, compared to what analysts expected at $ 5.89 billion.

The company announced that sales in the first quarter of the fiscal year ending April 30 were up 23% year-on-year. statementTo. Last quarter Revenue increased by 20%.

Platforms and other segments, including MuleSoft and Tableau products, are currently the top segment of Salesforce subscription and support revenue, contributing 28% to $ 1.75 billion in revenue.

Salesforce’s core Sales Cloud products, which sales reps use to track business opportunities, generated revenue of $ 1.39 billion, up 11%.

Salesforce Acquires Professional Services Company in Quarter Accumen Solutions Announced Voice function For Service Cloud offerings. The company said more than 150 government and medical institutions are using its software to control the distribution of vaccines.

Regarding guidance, Salesforce said it expects adjusted earnings per share of 91 to 92 cents in the second quarter, with revenues of $ 6.22 billion to $ 6.23 billion. Analysts surveyed by Refinitiv sought adjusted earnings per share of 86 cents and revenue of $ 6.15 billion.

Salesforce sought adjusted earnings per share of $ 3.79 to $ 3.81 for the entire fiscal year 2022, with revenue of $ 25.9 billion to $ 26 billion. The consensus among analysts surveyed by Refinitiv was adjusted earnings per share of $ 3.43 and revenue of $ 25.76 billion.

The year-round guidance includes a $ 500 million revenue contribution from the Team Communications software app. slackThe $ 27.7 billion acquisition is expected to close at the end of the quarter ending July 31. The company has updated its forecasts of when the deal will close, so its expected contribution will be in February. Is $ 100 million less than expected.

Despite non-business hours, Salesforce shares have risen less than 2% since the beginning of the year, and the S & P 500 Index has risen nearly 12% over the same period.

Analysts at Morgan Stanley raised the Salesforce stock rating from an equivalent hold to a buy equivalent earlier this month. “Although concerns about M & A appetite and lasting margin growth may persist, major franchises cannot stay cheap for the long term, especially in the strong demand background expected over the next few years.”

Executives will discuss the results with analysts at a conference call starting at 5 pm Eastern Standard Time.

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to see: Jim Cramer from Nvidia, Salesforce, Williams-Sonoma

Salesforce (CRM) Revenue for the First Quarter of 2022

Source link Salesforce (CRM) Revenue for the First Quarter of 2022

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