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Salesforce reports better-than-expected earnings as sales increase 11%

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Marc Benioff, CEO of Salesforce, participates in a conversation on AI and the Future at the Asia-Pacific Economic Cooperation (APEC) Leaders’ Week in San Francisco, California, on November 16, 2023. 

Andrew Caballero-Reynolds | AFP | Getty Images

Salesforce reported fiscal third-quarter earnings that topped analysts’ estimates on Wednesday. The stock rose almost 5% in extended trading.

Here’s how the company did:

  • Earnings: $2.11 per share, adjusted, versus the $2.06 per share expected by LSEG
  • Revenue: $8.72 billion versus the $8.72 billion expected by LSEG

Revenue increased 11% from $7.84 billion a year ago. The cloud software company has seen its growth rates slip over the past year as businesses have looked to reduce spending due to economic uncertainties and high interest rates.

However, the stock has jumped 79% this year, outperforming the Nasdaq, which has climbed 36%.

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Source: CNBC

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