• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Salesforce Reports Impressive Quarterly Results Alongside Weak Guidance For The Current Quarter And The Fiscal Full Year

Ibhadojemu Emmanuel by Ibhadojemu Emmanuel
August 25, 2022
in Uncategorised
Share on FacebookShare on Twitter

Cloud-based software company Salesforce reported second-quarter earnings results for the fiscal year of 2023 that surpassed the expectations of analysts. The company’s stock, however, slid 7 percent in Wednesday’s extended trading on weak guidance for the ongoing quarter and the fiscal full year. The company also announced a $10 million buyback program, its first ever. Its CEO Marc Benioff emphasized that this wouldn’t stop the company from embarking on more acquisitions. 

For the second quarter, the company reported earnings of $1.19 per share, surpassing analysts’ expectations of $1.02 per share, according to Refinitiv. Revenue for the quarter stood at $7.72 billion beating the $7.69 billion that analysts had expected, according to Refinitiv.

Revenue was up 22 percent in the quarter ended July 31st from the same period last year, the company said in a statement. Quarterly net income was down from the $535 million reported in the same period last year at $68 million.

Salesforce expects adjusted earnings of between $1.20 and $1.21 per share, and revenue of between $7.82 billion and $7.83 billion for the ongoing fiscal third quarter. Analysts expect adjusted earnings per share of $1.29 and revenue of $8.07 billion, according to Refinitiv. Salesforce said that the revenue guidance would have been higher by $250 million had it not been for the challenges posed by exchange rates.

The company also reviewed its fiscal 2023 guidance and now expects earnings per share to come in between $4.71 and $4.73 and revenue of between $30.9 billion and $31 billion. The company cited $800 million in negative foreign exchange impact. Its former forecast had been earnings of between $4.74 and $4.76 per share and revenue of between $31.7 billion and $31.8 billion. Analysts’ expectations for adjusted earnings per share and revenue are $4.75 and $31.73 billion respectively.

Commenting on the weak guidance, the company’s co-founder and CEO Marc Benioff mentioned that Salesforce had survived weaker economic cycles in the past. “Sales cycles can get stretched, deals are inspected by higher levels of management, and all of this we began to start to see in July. Nearly everyone I’ve talked to is taking a more measured approach to their business. We expect these trends to continue in the near term, and we’ve reflected this in our guidance” he said.

Related Posts:

  • salesforce-sign-4
    Salesforce Reports Better-than-expected Earnings…
  • lenovo-yoga-book-feature-awesome-specs-android
    Apple Reports Impressive Fiscal Third Quarter…
  • Cisco Reports Fiscal Fourth Quarter Earnings Results, Issues Better-than-expected Guidance For Its Full 2023 Fiscal Year
    Cisco Reports Fiscal Fourth Quarter Earnings…
  • Cisco Issues Impressive First Quarter Earnings Results And Strong Outlook For Fiscal 2023
    Cisco Issues Impressive First Quarter Earnings…
  • PayPal Reports Impressive Third-quarter Earnings Alongside Weak Fourth-quarter Guidance
    PayPal Reports Impressive Third-quarter Earnings…
  • Qualcomm Reports Impressive Quarterly Results Alongside Weak Fourth-quarter Guidance
    Qualcomm Reports Impressive Quarterly Results…
  • Zoom’s Fiscal Second Quarter Revenue Falls Below…
  • Apple's Fiscal Fourth Quarter Results Surpasses All…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Ibhadojemu Emmanuel

Ibhadojemu Emmanuel

Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • DOJ Reportedly Investigates Google’s Character.AI Partnership May 23, 2025
    • Sony Organises A PlayStation Event for June; A State of Play May 23, 2025
    • Microsoft’s New AI features in Notepad, Paint, & Snipping Tool Test Trials May 23, 2025
    • Bluesky Starts Confirming “Notable” Users May 23, 2025
    • Affiniti Raises $17M for AI-Powered Small Business Finance May 22, 2025
    • Absolute Zero’ AI Achieves Top-Level Reasoning Without Human Data May 22, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    Recent News

    DOJ Reportedly Investigates Google’s Character.AI Partnership

    DOJ Reportedly Investigates Google’s Character.AI Partnership

    May 23, 2025
    Sony Organises A PlayStation Event for June; A State of Play

    Sony Organises A PlayStation Event for June; A State of Play

    May 23, 2025
    Microsoft’s New AI features in Notepad, Paint, & Snipping Tool Test Trials

    Microsoft’s New AI features in Notepad, Paint, & Snipping Tool Test Trials

    May 23, 2025
    Bluesky Starts Confirming “Notable” Users

    Bluesky Starts Confirming “Notable” Users

    May 23, 2025
    Affiniti Raises $17M for AI-Powered Small Business Finance

    Affiniti Raises $17M for AI-Powered Small Business Finance

    May 22, 2025
    Absolute Zero’ AI Achieves Top-Level Reasoning Without Human Data

    Absolute Zero’ AI Achieves Top-Level Reasoning Without Human Data

    May 22, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok