Salesforce tops estimates

Salesforce.com Inc. (CRM) reported its fourth-quarter earnings results after the closing bell over Wall Street today – surpassing analyst expectations.

World’s leading customer relationship management (CRM) company reported revenue of $7.326 billion (an increase of 26% year-over-year) vs. $7.242 billion expected.

Earnings per share reported at $0.84 a share vs. $0.75 a share expected.

”We had another phenomenal quarter and full-year of financial results,” Marc Benioff, Chair and Co-CEO of Salesforce said following the latest results.

”As we continue to see tremendous demand from customers, we’re raising our FY23 re venue guidance to $32.1 billion at the high-end of range, with non-GAAP operating margin of 20%, and operating cash flow growth of 22% year-over-year,” Benioff continued.

Bret Taylor, Co-CEO of Salesforce, also commented on the strong financial results: ”With our customers’ success driving our financial success, we’re generating disciplined, profitable growth at scale quarter after quarter.”

”Our Customer 360 platform has never been more strategic or relevant in driving the growth and resilience of our customers around the world.”

Salesforce.com Inc. (CRM)

Share price of Salesforce was little changed at the end of the trading day on Wall Street Tuesday, down by 0.78% at $208.36 per share.

Here is how the stock has performed in the past year –

• 1 Month: -10.01%
• 3 Month: -26.69%
• Year-to-date: -17.80%
• 1 Year: -2.15%

Salesforce.com Inc. is the 51^st largest company in the world with total market cap of $205.75 billion.

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Sources: Salesforce.com Inc., TradingView, MetaTrader 5, CompaniesMarketCap