Earnings AlertsSmartkarma Newswire

Salesforce.Com Inc Earnings Beat Estimates: 1Q Subscription & Support Rev. Up 11% Y/Y

  • Salesforce Inc. reported subscription and support revenue of $7.64 billion, a 11% increase from the prior year.
  • Adjusted EPS was $1.69, a 72% increase from the prior year.
  • Revenue was $8.25 billion, a 11% increase from the prior year.
  • Adjusted income from operations was $2.27 billion, a 74% increase from the prior year.
  • Adjusted operating margin was 27.6%, a 10% increase from the prior year.
  • Remaining performance obligations were $46.7 billion, a 11% increase from the prior year.
  • Current remaining performance obligation was $24.1 billion, a 12% increase from the prior year.
  • Salesforce Inc. initiated second quarter fiscal year 2024 revenue guidance of $8.51 to $8.53 billion, a 10% increase from the prior year.
  • The company raised its full year fiscal year 2024 GAAP operating margin guidance to 11.4% and its non-GAAP operating margin guidance to 28.0%.
  • Wall Street analysts have 42 “buys”, 12 “holds”, and 1 “sell” rating for the stock.

A look at Salesforce.Com Inc Smart Scores

Salesforce.Com Inc has a long-term outlook that looks promising. The company provides software on demand to businesses worldwide, and clients use its technology platform to manage their customer, sales and operational data. The Smartkarma Smart Scores for Salesforce.com Inc indicate a favourable outlook, with a score of 5 for Momentum and 3 for both Growth and Resilience. These scores show that the company is well positioned for long-term success and growth.

The company also scores well for Value, with a 2 on the Smartkarma Smart Score scale. This indicates that Salesforce.Com Inc is likely to retain its value over the long term, making it a good investment for investors looking for a reliable and profitable company.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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