San Francisco Ca February 28 2024 Business Wire

Salesforce Delivers Strong Fiscal Fourth Quarter and Full Fiscal Year 2024 Results

San Francisco, CA - February 28, 2024 - BUSINESS WIRE

Salesforce (NYSE: CRM), the global leader in customer relationship management (CRM), today announced results for its fiscal fourth quarter and full fiscal year 2024.

Key Highlights

• First Quarter Revenue of $9.13 billion, up 11% Year-Over-Year (YY) up 11% in Constant Currency (CC) inclusive of Subscription.
• Total second quarter revenue was $8.60 billion, an increase of 11% YY and grew 10% in Constant Currency (CC) inclusive of Subscription.
• Full fiscal year 2024 revenue was $34.4 billion, representing an increase of 15% YY and grew 13% in Constant Currency (CC) inclusive of Subscription and Professional Services.
• Strong demand across all regions, industries, and products.
• Continued momentum in its AI-powered CRM.
• Strong growth in its Customer 360 platform.
• Expansion of its ecosystem of partners and developers.
• Commitment to innovation and customer success.
• Positive outlook for fiscal year 2025.

Financial Performance

First Quarter Fiscal 2024

Total revenue was $9.13 billion, an increase of 11% YY up 11% in Constant Currency (CC) inclusive of Subscription.

Subscription and support revenue was $8.22 billion, representing an increase of 10% YY and grew 10% in CC.

Professional services and other revenue was $917 million, representing an increase of 20% YY and grew 18% in CC.

Total remaining performance obligation (RPO) was $64.1 billion, representing an increase of 14% YY.

Net income was $793 million, compared with a net income of $1.49 billion in the same quarter last year.

Diluted earnings per share (EPS) was $0.92, compared with $1.70 in the same quarter last year.

Full Fiscal Year 2024

Total revenue was $34.4 billion, representing an increase of 15% YY and grew 13% in Constant Currency (CC) inclusive of Subscription and Professional Services.

Subscription and support revenue was $30.2 billion, representing an increase of 12% YY and grew 10% in CC.

Professional services and other revenue was $4.2 billion, representing an increase of 26% YY and grew 20% in CC.

Total remaining performance obligation (RPO) was $64.1 billion, representing an increase of 14% YY.

Net income was $5.4 billion, compared with a net income of $6.8 billion in the same quarter last year.

Diluted earnings per share (EPS) was $6.08, compared with $7.61 in the same quarter last year.

Business Highlights

Salesforce continues to drive innovation across