Salesforce Announces Strong Third Quarter Fiscal 2022 Results

Salesforce Announces Strong Third Quarter Fiscal 2022 Results
Salesforce

Salesforce reported better than expected revenue for the third quarter of fiscal 2022. The results were boosted by strong demand for its cloud-based software.

Revenue rose 27% to $6.86 billion in the quarter ended Oct. 31, beating analysts estimate of $6.8 billion. Subscription and support revenues for the quarter were $6.38 billion, an increase of 25% year-over-year. Professional services and other revenues for the quarter were $0.48 billion, an increase of 45% year-over-year.

The company reported earnings of $1.27 per share. Salesforce announced it expects revenue in the fourth quarter to reach between $7.22 and $7.234 billion, up approximately 24% Year-Over-Year.

“We delivered another phenomenal quarter, fueling strong revenue growth, margin, and cash flow,“ said Marc Benioff, Chair and CEO of Salesforce. “With the tremendous strength of our Customer 360 platform and Slack, we’re on track to reach $50 billion revenue in FY26.“