Salesforce (NYSE: CRM) watched its shares plummet Thursday, a day after announcing results for its third quarter fiscal 2023 ended October 31, 2022.
The figures featured revenue of $7.84 Billion, up 14% Y/Y, up 19% Constant Currency; GAAP Earnings per Share ("EPS") of $0.21 and Non-GAAP EPS of $1.40
The company also returned $1.7 Billion to shareholders in the third quarter in the form of share repurchases
“We had a solid quarter with revenue of $7.84 billion, up 14% year-over-year or 19% growth in constant currency, and record operating margin,” said CEO Marc Benioff. “We’re grateful to our customers for their commitment, especially as we help them succeed in this challenging environment. There’s never been a more important time for our customers to connect with their customers in a whole new way.”
“Our customers are tapping into the power of Customer 360 to gain faster time to value and reduce costs,” said co-CEO Bret Taylor, “We continued to drive profitable growth in the quarter, and we are closing more transformational deals and multi-cloud expansions.”
As of November 30, the Company is initiating its fourth quarter GAAP and non-GAAP EPS guidance, current remaining performance obligation growth guidance, and revenue guidance. The Company is updating its full year FY23 revenue guidance, GAAP and non-GAAP EPS guidance, GAAP and non-GAAP operating margin guidance, and operating cash flow guidance.
CRM shares ditched $15.29, or 9.5%, to $144.97.
