Salesforce, the global leader in CRM, has released strong results for its fourth quarter and full fiscal year ending 31 January 2023, causing shares to leap up 16 percent.
The company reported total fourth quarter revenue at $8.38bn, an increase of 14 percent year-on-year, and 17 percent constant currency. Additionally, FY23 revenue was reported at $31.4bn, up 18 percent YoY, up 22 percent constant currency.
Salesforce’s fiscal 2023 GAAP operating margin was 3.3 percent with non-GAAP being 22.5 percent.
The company returned a total of $2.3bn in fourth quarter and $4bn in FY23 to shareholders in the form of share repurchases and has also announced its Share Repurchase Program has increased to $20bn.
Marc Benioff, chair and CEO of Salesforce, said: “For the full year we delivered one of the best performances of any enterprise software company of our size. We close FY23 with operating cash flow reaching $7.1bn, up 19 percent year-over-year, the highest cash flow in our company’s history, and one of the highest cash flows of any enterprise software company our size.”
“Now we immediately put into place an accelerated transformation plan; restructuring the company. Our profitability is up, and we are not done. We’re reigniting our performance culture and doubling down on our accountable management of our sales organization.”
Amy Weaver, president and CFO, Salesforce, said: “Our relentless focus on execution and proactive management of the current environment allowed us to close out a strong quarter and set us up for a transformational fiscal year 24.
“It’s a New Day at Salesforce and as we continue to look ahead, I am excited for the opportunity in front of us as we continue to drive profitable growth.”
