Salesforce Reports Strong Revenue Growth in Q4 2023 Earnings Call
Key Highlights
- Total fiscal 2023 revenue reached $31.35 billion, a year-over-year (YY) increase of 18% and a constant currency (CC) increase of 22%.
- These results reflect the company's continued leadership in the CRM market.
Additional Details
Salesforce's strong financial performance was driven by continued customer adoption of its CRM solutions across various industries.
The company's subscription and support revenue increased by 18% YY to $30.6 billion, while professional services and other revenue grew by 24% YY to $757 million.
Salesforce's revenue growth is expected to continue in the coming quarters, as the company focuses on expanding its product portfolio and enhancing its customer experience offerings.
Management Comments
During the earnings call, Salesforce CEO Marc Benioff said, "We had a strong finish to fiscal 2023, delivering record revenue and profitability. Our results demonstrate the continued value and relevance of our CRM platform in helping businesses transform and grow."
Market Reaction
Salesforce's stock price rose by 3% in after-hours trading following the release of its earnings results.
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