{"id":31036,"date":"2022-05-31T20:50:04","date_gmt":"2022-05-31T20:50:04","guid":{"rendered":"https:\/\/harchi90.com\/salesforce-crm-earnings-q1-2023\/"},"modified":"2022-05-31T20:50:04","modified_gmt":"2022-05-31T20:50:04","slug":"salesforce-crm-earnings-q1-2023","status":"publish","type":"post","link":"https:\/\/harchi90.com\/salesforce-crm-earnings-q1-2023\/","title":{"rendered":"Salesforce (CRM) earnings Q1 2023"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107069187\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Marc Benioff, co-CEO of Salesforce.com Inc., speaks on a panel session at the World Economic Forum in Davos, Switzerland, on Tuesday, May 24, 2022.<\/p>\n<p>Hollie Adams |  Bloomberg |  Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Salesforce shares rose 7% in extended trading on Tuesday after the enterprise-software maker reported fiscal first-quarter results that surpassed analysts&#8217; expectations and lifted its full-year earnings guidance.<\/p>\n<p>Here&#8217;s how the company did:<\/p>\n<ul>\n<li><strong>Earnings:<\/strong> 98 cents per share, adjusted, vs.  94 cents per share as expected by analysts, according to Refinitiv.<\/li>\n<li><strong>Revenue:<\/strong> $ 7.41 billion, vs.  $ 7.38 billion as expected by analysts, according to Refinitiv.<\/li>\n<\/ul>\n<p>Salesforce&#8217;s revenue rose 24% year over year in the quarter, which ended April 30, according to a statement.  Net income fell 94% to $ 28 million.<\/p>\n<p>Salesforce said revenue from its Service Cloud for handling customer-service inquiries generated $ 1.76 billion in revenue, up almost 17%.  Revenue from the core Sales Cloud product for managing business opportunities contributed $ 1.63 billion, up about 18%.<\/p>\n<p>In the quarter Salesforce said its Sales Cloud, Service Cloud and Marketing Cloud integrations for Slack were launching in beta.  Salesforce acquired Slack for $ 27.1 billion in July.  The company also announced the launch of Safety Cloud for organizing in-person events during the quarter, and its legal name changed to Salesforce Inc. from Salesforce.com Inc. Salesforce was founded in 1999, in the midst of the dot-com craze.<\/p>\n<p>In early March, after Russia invaded Ukraine, Salesforce said it began to end relationships with customers it has accumulated in Russia through resellers and other channels.<\/p>\n<p>Salesforce said it had $ 13.64 billion in unearned revenue, which primarily comes from subscription billings.  The figure was slightly below the StreetAccount consensus of $ 13.76 billion.<\/p>\n<p>With respect to guidance, Salesforce said it sees fiscal second-quarter earnings of $ 1.01 to $ 1.02 per share on an adjusted basis and revenue from $ 7.69 billion to $ 7.70 billion.  Analysts polled by Refinitiv had expected $ 1.14 in adjusted earnings per share on $ 7.77 billion in revenue.<\/p>\n<p>Salesforce lowered its revenue guidance for the full 2023 fiscal year while boosting its profit view.  It now sees $ 4.74 to $ 4.76 per share in adjusted earnings and $ 31.7 billion to $ 31.8 billion in revenue.  Analysts polled by Refinitiv had expected $ 4.65 in adjusted earnings per share and $ 32.06 billion in revenue.  Previously Salesforce had expected adjusted earnings of $ 4.62 to $ 4.64 per share on $ 32.0 billion to $ 32.1 billion in revenue for the full year.<\/p>\n<p>Notwithstanding the after-hours move, Salesforce stock has moved about 36% lower since the start of the year, while the broader S&#038;P 500 index has declined 13% over the same period.<\/p>\n<p>Executives will discuss the results with analysts on a conference call starting at 5 pm ET.<\/p>\n<p><em>This is breaking news.  Please check back here for updates.<\/em><\/p>\n<p><strong>WATCH:<\/strong> Salesforce was born in the 2001 recession, says chairman and co-CEO Marc Benioff<\/p>\n<\/div>\n<\/div>\n<p>    .<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Marc Benioff, co-CEO of Salesforce.com Inc., speaks on a panel session at the World Economic Forum in Davos, Switzerland, on Tuesday, May 24, 2022. Hollie Adams | Bloomberg | Getty Images Salesforce shares rose 7% in extended trading on Tuesday after the enterprise-software maker reported fiscal first-quarter results that surpassed analysts&#8217; expectations and lifted its &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/harchi90.com\/salesforce-crm-earnings-q1-2023\/\"> <span class=\"screen-reader-text\">Salesforce (CRM) earnings Q1 2023<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":31037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[300,184,116,118,193,1786,8360,130],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/image.cnbcfm.com\/api\/v1\/image\/107069187-1654016837572-gettyimages-1240874186-DAVOS_WEF_2022.jpeg?ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107069187-1654016837572-gettyimages-1240874186-DAVOS_WEF_2022.jpeg?v=1654017763&w=1920&h=1080","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/31036"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=31036"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/31036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media\/31037"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=31036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=31036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=31036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}