Salesforce Reports Strong Fourth Quarter and Full Fiscal 2023 Results

Salesforce reported strong results for its fourth quarter and fiscal year 2023. The company posted double-digit growth in revenues and announced an upbeat forecast for the first quarter of FY 2024.

During the final quarter of FY 2023, Salesforce recorded $8.38 billion in revenue, up 14% on a yearly basis. The full-year revenue also saw double-digit growth of 18% to $31.4 billion. The fourth quarter diluted loss per share was $0.10, while the gain in the full fiscal year was $0.21.

“For the full year we delivered $31.4 billion in revenue, up 18% year-over-year, or 22% in constant currency, one of the best performances of any enterprise software company our size,“ said Marc Benioff, Chair and CEO of Salesforce. “We closed FY23 with operating cash flow reaching $7.1 billion, up 19% year-over-year, the highest cash flow in our company’s history, and one of the highest cash flows of any enterprise software company our size.“

“Our relentless focus on execution and proactive management of the current environment allowed us to close out a strong quarter and set us up for a transformational fiscal year 24,“ said Amy Weaver, President and CFO of Salesforce. “It’s a New Day at Salesforce and as we look ahead, I am excited for the opportunity in front of us as we continue to drive profitable growth.“

The guidance for the first quarter and full FY 2024 is strong. Salesforce expects revenue in the first quarter to rise around 10% to a value between $8.16 and $8.18 billion. The same optimism is visible in the guidance for the FY. The company announced around a 10% rise in revenues to earnings between $34.5 and $34.7 billion.