Salesforce reported earnings on Thursday.
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Salesforce. com stock rose late Thursday after the cloud-based enterprise software company posted better-than-expected results for its latest quarter.
Salesforce (ticker: CRM) reported revenue of $5.96 billion for its fiscal first quarter ended April 30, up 23% from a year ago. The top-line figure came in ahead of both the company’s guidance range of $5.875 billion to $5.885 billion and the Street consensus at $5.89 billion.
Non-GAAP profits were $1.21 a share—including a gain on investments of 24 cents a share—ahead of the Street consensus at 88 cents. Without the investment gains, non-GAAP profits were 97 cents a share. Under generally accepted accounting principles, the company earned 50 cents a share, also including the gains.
In late trading, Salesforce is up 4% to $234.74.
For the fiscal second quarter, Salesforce sees revenue of $6.22 billion to $6.23 billion, with non-GAAP earnings of 91 to 92 cents a share; previous Street consensus called for $6.15 billion and 85 cents a share.
For the January 2022 fiscal year, the company sees revenue of $25.9 billion to $26 billion, with non-GAAP profits of $3.79 to $3.81 a share, ahead of the former Street consensus at $25.8 billion and $3.43. The company said the full year includes about $500 million in contributions from Slack Technologies. Salesforce expects its acquisition of Slack to close toward the “very end” of the fiscal second quarter.
“We had the best first quarter in our company’s history,” CEO Marc Benioff said in a statement. “We’re on our path to reach $50 billion in revenue in FY 2026.”
Write to Eric J. Savitz at [email protected]
