TokyoTokyo Mon - Fri 10:00-18:00 +81 (368) 662-975
info@mountequitygroup.com

Salesforce growth accelerates as company offers strong guidance for coming fiscal year

Mount Equity Group Tokyo, Japan > News > Tech > Salesforce growth accelerates as company offers strong guidance for coming fiscal year

In this article

CRMMarc Benioff, CEO of Salesforce.Adam Jeffery | CNBC

Salesforce shares rose 5% in extended trading on Thursday after the cloud software maker issued earnings and guidance that surpassed analysts’ expectations.

Here’s how the company did:

Earnings: $1.21 per share, adjusted, vs. 88 cents per share as expected by analysts, according to Refinitiv.Revenue: $5.96 billion, vs. $5.89 billion as expected by analysts, according to Refinitiv.

Revenue grew 23% year over year in the fiscal first quarter, which ended April 30, the company said in a statement. In the previous quarter revenue increased by 20%.

The Platform and Other segment that includes the MuleSoft and Tableau products, currently Salesforce’s top segment for subscription and support revenue, contributed $1.75 billion in revenue, up 28%.

Salesforce’s core Sales Cloud product that salespeople use to track business opportunities delivered $1.39 billion in revenue, up 11%.

In the quarter Salesforce acquired professional-services company Acumen Solutions and announced voice features for its Service Cloud offering. The company also said over 150 government agencies and health-care organizations were using its software to manage the distribution of vaccines.

With respect to guidance, Salesforce said it sees 91 cents to 92 cents in adjusted fiscal second-quarter earnings per share on $6.22 billion to $6.23 billion