Salesforce Q1 results best in company’s history

Salesforce shares rose by 5 percent in extended trading following its first quarter fiscal 2022 results announcement, which saw the company raise its FY22 revenue guidance by $250m to $26bn.

Total first quarter revenue was $5.96bn, an increase of 23 percent year-on-year. Subscription and support revenues for the quarter were $5.5bn, an increase of 21 percent, while professional services and other revenues for the quarter were $0.43bn, an increase of 47 percent year-on-year.

Salesforce also reported Q1 GAAP operating margin of 5.9 percent and non-GAAP operating margin of 20.2 percent. It has now raised its FY22 GAAP operating margin guidance to approximately 1.4 percent and non-GAAP operating margin guidance to approximately 18 percent.

Marc Benioff, chair and CEO of Salesforce, said: “We had the best first quarter in our company’s history. We believe our Customer 360 platform is proving to be the most relevant technology for companies accelerating out of the pandemic. With incredible momentum throughout our core business, we’re raising our revenue guidance for this fiscal year by $250m to approximately $26bn and non-GAAP operating margin to 18 percent.”

“Our performance in the first quarter was strong across all financial metrics,” said Amy Weaver, president and chief financial officer at Salesforce. “We saw record levels of new business and strength across all products, regions, and customer sizes. Our impressive start to this year helps fuel our momentum for the rest of the year as we keep pace toward our goal of $50bn in revenue in FY26.”

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