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Oct 31, 2022
Salesforce Q3 2023 Earnings Report
Salesforce's Q3 2023 earnings showcased revenue growth and profitability.
Key Takeaways
Salesforce reported a solid third quarter with revenue reaching $7.84 billion, a 14% year-over-year increase, and GAAP EPS of $0.21 and non-GAAP EPS of $1.40. The company also returned $1.7 billion to shareholders through share repurchases.
Revenue reached $7.84 billion, up 14% year-over-year (19% in constant currency).
GAAP earnings per share was $0.21, while non-GAAP EPS reached $1.40.
Current remaining performance obligation was $20.9 billion, an 11% increase year-over-year (15% in constant currency).
The company returned $1.7 billion to shareholders through share repurchases.
Salesforce
Salesforce
Salesforce Revenue by Segment
Salesforce Revenue by Geographic Location
Revenue by Segment
Sales Revenue
CapyFin.comService Revenue
CapyFin.comPlatform and Other Revenue
CapyFin.comMarketing and Commerce Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEurope Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
Salesforce provided revenue guidance for Q4 FY23 of $7.932 billion to $8.032 billion, representing an 8% to 10% year-over-year growth. Full year FY23 revenue guidance is $30.9 billion to $31.0 billion, up 17% year-over-year.
Positive Outlook
- Q4 FY23 Revenue Guidance: $7.932 - $8.032 Billion, up 8% to 10% Y/Y.
- Full Year FY23 Revenue Guidance: $30.9 - $31.0 Billion, up 17% Y/Y.
- Full Year FY23 GAAP Operating Margin Guidance: ~3.8%.
- Full Year FY23 Non-GAAP Operating Margin Guidance: ~20.7%.
- Full Year FY23 Operating Cash Flow Guidance: ~16% growth Y/Y.
Challenges Ahead
- Q4 FY23 Current Remaining Performance Obligation Growth (Y/Y): ~7%.
- Revenue FX Impact: ~($900M) y/y FX.
- Assumes no change to the value of the Company's strategic investment portfolio.
- GAAP tax rates may fluctuate due to future acquisitions or other transactions.
- Economic uncertainty
Revenue & Expenses
Visualization of income flow from segment revenue to net income