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Investing.com — Salesforce reported Tuesday fourth-quarter results that topped expectations and raised its full-year guidance pointing to healthy digital transformation spending
Salesforce.com (NYSE:CRM) shares gained 3% in after-hours trade following the report.
Salesforce.com announced earnings per share of 84 cents on revenue of $7.33 billion. Analysts polled by Investing.com anticipated EPS of 75 cents on revenue of $7.25 billion.
Subscription and support revenues for the quarter were $6.83 billion, an increase of 25% year-over-year. Professional services and other revenues for the quarter were $0.50 billion, an increase of 46% year-over-year.
Looking ahead, the company said it expected to generated first quarter revenue in range of $7.37 billion to $7.38 billion, and raised its full-year 2022 guidance to between $32.0 billion to $32.01 billion from $31.7 billion to $31.8 billion previously.
That compared with analysts estimates for first quarter revenue guidance of $7.27 billion and FY23 revenue of $31.8 billion.
“[A]s we continue to see tremendous demand from customers, we’re raising our FY23 revenue guidance,” the company said. “I’m confident in the momentum of the business as we build an even stronger company in FY23 and beyond,” said Marc Benioff, chair and Co-chief executive of Salesforce.
