Salesforce reports strong results for the second quarter of its 2024 fiscal year

Foreclosure announced results for the second quarter of its fiscal year 2024, which ended on July 31:

  • Revenue for the second quarter was $8.6 billion, up 11% year-on-year and 11% in constant currency. Subscriptions and support revenue was $8.01 billion, up 12% year over year. Professional services and other revenue was $0.60 billion, up 3% year over year.
  • Second quarter GAAP operating margin reached 17.2%while non-GAAP operating margin reached 31.6%.
  • terminate a Revenue guidance for the third quarter of fiscal 2024 is between $8.700 million and $8.720 millionwith an increase of 11% compared to the same period last year.
  • Update yours Revenue guidance for full fiscal year 2024 of $24,000-$34,800 millionwith an increase of 11% compared to the previous year.

“Our transformation resulted in our strong second quarter results, delivering $8.6 billion in revenue and record GAAP and non-GAAP operating margins.”he claimed Marc Benioff, President and CEO of Salesforce. “Based on our performance and what we see in the second half of the year, we are increasing our revenue, operating margin and operational cash flow growth guidance for fiscal 2024. As a leading AI CRM with industry-leading clouds, Einstein, Data Cloud, MuleSoft, With Slack and Tableau all integrated into a unified, trusted platform, we are leading our customers into the new era of AI.”

“We continue to execute on our profitable growth framework, delivering a 17.2% GAPP operating margin and a 6% non-GAAP operating margin, exceeding our target three quarters ahead.”said Amy Weaver, President and CFO of Salesforce. “We are accelerating our transformation and continue to drive strong shareholder value.”

Future Orientation

Effective August 30, 2023, the Company is introducing its GAAP and non-GAAP guidance for diluted EPS, growth guidance for the remaining performance obligation and revenue guidance for the third quarter. The Company is increasing its full fiscal 24 revenue guidance, GAAP and non-GAAP diluted EPS guidance, GAAP and non-GAAP operating margin guidance, and operating cash flow growth guidance.

The forecast assumes no change in the value of the Company’s strategic investment portfolio as future gains and losses are unpredictable. In addition, the following guidance is based on estimated GAAP tax rates reflecting currently available company information and excludes expected discrete tax items such as excess tax benefits from stock-based compensation. GAAP tax rates may vary due to individual tax items and related effects, certain provisions of the Tax Cuts and Jobs Act, future acquisitions or other transactions.

The following is a reconciliation of diluted GAAP earnings per share to non-GAAP diluted earnings per share projections for the upcoming quarter and full year:

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