Salesforce Shares Jump 6% on Q1 Earnings Beat
2022.06.01 00:26
Salesforce Shares Jump 6% on Q1 Earnings Beat
By Davit Kirakosyan
Salesforce (NYSE:CRM) shares rose more than 6% after-hours Tuesday following the company’s Q1 results, with EPS of $0.98 coming in better than the consensus estimate of $0.94.
Revenue grew 24% year-over-year to $7.41 billion, compared to the consensus estimate of $7.38 billion. Subscription and support revenues grew 24% year-over-year to $6.86 billion, and Professional services and other revenues grew 30% year-over-year to $0.56 billion.
“There is no greater measure of our resilience and the momentum in our business than the $42 billion we have in remaining performance obligation, representing all future revenue under contract,” Co-CEO Marc Benioff stated.
The company expects Q2/23 revenue to be in the range of $7.69-7.7 billion, compared to the consensus estimate of $7.77 billion. Non-GAAP EPS is expected to be $1.01-$1.02, versus the consensus of $1.14.
For the full 2023-year, revenue is expected to be in the range of $31.7-31.8 billion, compared to the consensus estimate of $32.06 billion. EPS is expected to be $4.74-$4.76, versus the consensus of $4.65.
