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Oct 31, 2023
Salesforce Q3 2024 Earnings Report
Salesforce's Q3 2024 results were announced, demonstrating strong revenue and profitability growth.
Key Takeaways
Salesforce reported a strong third quarter in fiscal year 2024, with revenue reaching $8.72 billion, an 11% year-over-year increase. The company's GAAP operating margin was 17.2%, and non-GAAP operating margin was 31.2%. GAAP diluted EPS was $1.25, and non-GAAP diluted EPS was $2.11. Salesforce also returned $1.9 billion to stockholders through share repurchases.
Revenue reached $8.72 billion, up 11% year-over-year.
GAAP operating margin was 17.2%, and non-GAAP operating margin was 31.2%.
GAAP diluted EPS was $1.25, and non-GAAP diluted EPS was $2.11.
Current remaining performance obligation increased by 14% year-over-year to $23.9 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Salesforce initiates Q4 FY24 revenue guidance of $9.18B to $9.23B, up 10% Y/Y, and narrows full year FY24 revenue guidance to $34.75B to $34.8B, up 11% Y/Y. Raises full year FY24 GAAP operating margin guidance to 14.5% and non-GAAP operating margin guidance to 30.5%.
Positive Outlook
- Q4 FY24 Revenue Guidance: $9.18 - $9.23 Billion, up 10% Y/Y
- Full Year FY24 Revenue Guidance: $34.75 - $34.8 Billion, up 11% Y/Y
- Full Year FY24 GAAP Operating Margin Guidance: 14.5%
- Full Year FY24 Non-GAAP Operating Margin Guidance: 30.5%
- Full Year FY24 Operating Cash Flow Growth Guidance: 30% - 33% Y/Y
Challenges Ahead
- Operating Cash Flow Growth guidance includes an estimated 14% - 16% headwind from charges associated with restructuring plan.
- Guidance assumes no change to the value of the Company's strategic investment portfolio.
- GAAP tax rates may fluctuate due to discrete tax items.
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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