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Salesforce Q1 results tops expectations; Reiterates FY outlook

Published 2023/05/31, 22:20
© Reuters

Investing.com -- Salesforce reported Wednesday fiscal first-quarter results and revenue guidance for the current quarter that topped expectations. 

Salesforce.com (NYSE:CRM) shares fell 4% in after-hours trade following the report.

Salesforce.com announced adjusted EPS of $1.69 on revenue of $8.25 billion. Analysts polled by Investing.com anticipated EPS of $1.61 on revenue of $8.18B.

Subscription and support revenues for the quarter were $7.64B, an increase of 11% year-over-year. Professional services and other revenues for the quarter were $0.61B, an increase of 9% year-over-year.

Looking ahead, the company reiterated full-year 2024 guidance to between $34.5B to $34.7B.

The company forecast Q2  revenue in the range of $8.51B to $8.53B, above Wall Street estimates for $8.49B. 

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