Blockbuster full year results for Salesforce – Benioff says $32bn next year

Salesforce has announced results for its Q4 and full year fiscal 2022 ended 31 January 2022, revealing full year revenue of $26.5bn, up 25 percent year-on-year.

Subscription and support revenues for the year were $24.6bn, up 23 percent from the same period last year. Professional services and other revenues for the year totalled $1.84bn, up 44 percent year-on-year. For the full fiscal year, Salesforce’s GAAP operating margin was 2.1 percent and diluted earnings per share were $1.48.

Salesforce ended Q4 2022 with revenue of $7.33bn, up 26 percent year-on-year. Subscription and support revenues for the quarter were $6.83bn, a 25 percent increase on last year, and professional services and other revenues for the quarter were $0.5bn, an increase of 46 percent. The company’s GAAP operating margin for the quarter was 2.4 percent.

Marc Benioff, chair and co-CEO of Salesforce, said: “We had another phenomenal quarter and full year of financial results. As we continue to see tremendous demand from customers, we’re raising our FY23 revenue guidance to $32.1bn at the high-end of range, with non-GAAP operating margin of 20 percent, and operating cash flow growth of 22 percent year-over-year.

Bret Taylor, co-CEO of Salesforce, said: “With our customers’ success driving our financial success, we’re generating disciplined, profitable growth at scale quarter after quarter. Our customer 360 platform has never been more strategic or relevant in driving the growth and resilience of our customers around the world.”

Amy Weaver, Salesforce president and CFO, added: “Fiscal 2022 was a remarkable year for Salesforce. I am particularly pleased with our focus on discipline and profitable growth which drove record levels of revenue, margin, and cash flow. I’m confident in the momentum of the business as we build an even stronger company in FY23 and beyond.”

Salesforce has raised its revenue guidance for its first quarter and full fiscal year 2023, anticipating full year revenue of between $32bn and $32.1bn.

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