Https Seekingalpha Com News 4111304 Salesforce Earnings Summary Tops Eps Expectations But Issues Soft Guidance Source Content Type 3areact 7cfirst Level Url 3amarket News 7csection Asset 3amain
Salesforce Q1 Earnings: Analysts Project 109% Revenue Growth
Strong Revenue Growth Continues, Earnings Expectations Raised
San Francisco, CA - February 28, 2024 - Salesforce (NYSE: CRM), the leading AI-powered CRM platform, reported strong financial results for its fiscal fourth quarter and full fiscal year ended January 31, 2024.
Key Financial Highlights
- Total revenue for fiscal Q4 was $8.38 billion, up 14% year-over-year (YoY).
- Subscription and support revenues grew by 14% YoY to $7.79 billion.
- Professional services and other revenues increased by 19% YoY to $0.60 billion.
- GAAP diluted earnings per share (EPS) were $0.61, down from $0.64 in the prior-year quarter.
- Non-GAAP EPS were $1.33, compared to $1.31 in the same period last year.
Outlook for Q1 2025
For the first quarter of fiscal 2025, analysts are expecting strong growth in revenue and earnings.
- Consensus EPS is set at $2.37 per share, representing a 16.1% YoY increase.
- Revenue is projected to reach $9.15 billion, a 10.9% YoY growth.
- The company expects revenue to be in the range of $9.145 billion to $9.185 billion.
Conclusion
Salesforce's strong financial performance in fiscal Q4 2024 and positive outlook for Q1 2025 highlight the company's continued dominance in the AI-powered CRM market. With a solid track record of revenue growth and innovation, Salesforce is well-positioned to capitalize on the growing demand for digital transformation solutions. Investors and analysts will closely monitor the company's upcoming earnings release for further insights into its growth trajectory and future prospects.
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