Daily Management Review

Salesforce raises full-year 2022 earnings and revenue forecast


The enterprise software company Salesforce showed a 23% increase in revenue after buying the messenger Slack, and revenue growth of 39%.

Enterprise software and cloud services developer Salesforce raised its revenue and earnings guidance for the full fiscal year 2022 after closing its acquisition of messenger service Slack. Slack revenue rose 39% for the second quarter to $530 million, $30 million more than Salesforce had forecast a quarter earlier, CNBC reported from the company's second-quarter executive conference call.

Salesforce reported second quarter earnings and guidance that exceeded analysts' estimates. The company had earnings per share of $1.48, versus 92 cents per share that analysts surveyed by Refinitiv had expected. Revenue rose to $6.34 billion versus $6.24 billion analysts expected, according to Refinitiv. Revenue increased 23% year over year for the quarter ended July 31, the company said in a statement. Revenue was up 23% in the previous quarter.

Salesforce divisions, which include MuleSoft integration software and Tableau data analytics software, brought in revenue of $1.88 billion, up 24% year-over-year. The cloud services segment generated $1.6 billion in revenue, up about 23%. Salesforce's core cloud product, which salespeople use to stay on top of business opportunities, brought in revenue of $1.48 billion, up 15% year-over-year.

source: cnbc.com