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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.
Revenue by Segment
Revenue by Geographic Location
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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