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Salesforce Posts Record First Quarter
Salesforce has delivered its first quarter results, posting a record quarter on strong Customer 360 results.
Salesforce posted $5.96 billion in revenue, a 23% increase year-over-year. Subscription and support revenue accounted for $5.54 billion of that, an increase of 21%, with the professional services and other revenue sources making up $0.43 billion, an increase of 47%.
“We had the best first quarter in our company’s history,” said Marc Benioff, Chair & CEO, Salesforce. “We believe our Customer 360 platform is proving to be the most relevant technology for companies accelerating out of the pandemic. With incredible momentum throughout our core business, we’re raising our revenue guidance for this fiscal year by $250 million to approximately $26 billion and non-GAAP operating margin to 18 percent. We’re on our path to reach $50 billion in revenue in FY26.”
“Our performance in the first quarter was strong across all financial metrics,” said Amy Weaver, President and Chief Financial Officer, Salesforce. “We saw record levels of new business and strength across all products, regions, and customer sizes. Our impressive start to this year helps fuel our momentum for the rest of the year as we keep pace toward our goal of $50 billion in revenue in FY26.”
In addition to beating earnings estimates, Salesforce issued stronger guidance than analysts were expecting, predicting $0.91 to $0.92 per share for the second quarter, on $6.22 billion to $6.23 billion. In contrast, according to CNBC, analysts had been expecting $0.86 on $6.15 billion.
Salesforce Posts Record First Quarter
Matt Milano
from WebProNews https://ift.tt/34oZ5Rp
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