Salesforce co-CEO Mark Benioff on Tuesday shattered the latest financial results from the enterprise software giant, telling CNBC’s Jim Cramer that “this is probably the best quarter we’ve ever had.”
Shares of Salesforce, which have been struggling for the past three months, jumped 3% in expanded trading on Tuesday as Wall Street reacted to the company’s data for the fourth quarter. Both earnings and earnings per share exceeded forecasts, while the outlook for the full year for fiscal 2023 is also better than expected by analysts.
“It was an exceptional quarter, perhaps the best quarter we’ve ever had, and you can really see it not only in quarterly terms, but also where we’re looking for next fiscal year,” Benioff said, noting San Francisco-based Salesforce expects revenue. between $ 32 billion and $ 32.1 billion in fiscal 2023.
That’s more than $ 31.78 billion, which analysts polled by Refinitiv predicted.
Salesforce reported revenue of $ 26.49 billion in fiscal 2022, so the high end of its 2023 revenue guidelines will be an increase of just over 21% year-on-year.
“We are leaving the $ 20 billion behind, and the $ 30 billion is now ahead of us,” said Benioff, who co-founded Salesforce in 1999.
He said Salesforce’s next phase of growth continues to be driven by digital transformation and customers who need a wide range of tools to support their own customers. That’s why Salesforce is working to combine all of its recent acquisitions, Benioff said, citing data analytics firm Tableau, integration software provider MuleSoft and Slack chat app.
Benioff also said he was pleased with Salesforce’s performance and cash flow forecasts. The company reported $ 6 billion for fiscal 2022, up 25 percent year-on-year and expected 21 percent to 22 percent growth in fiscal 2023.
Shares of Dowfor’s shares have risen 7% in the past five sessions, but have fallen nearly 27% in the past three months as investors have moved away from growth-oriented technology companies to safer parts of the market.
Disclosure: Cramer’s charity trust owns shares in Salesforce (CRM).
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