Salesforce (NYSE: CRM), the #1 AI CRM, today announced results for its fiscal fourth quarter and full fiscal year 2024 ended
Fourth Quarter Revenue of
Current Remaining Performance Obligation of
FY24 Revenue of
FY24 GAAP Operating Margin of 14.4% and non-GAAP Operating Margin of 30.5%
FY24 Operating Cash Flow of
Initiates a Quarterly Dividend of
Announced Share Repurchase Program Authorization Increased by
Returned
Initiates Full Year FY25 Revenue Guidance of
Initiates Full Year FY25 Subscription & Support Revenue Growth Guidance of Approximately 10% Y/Y, Slightly Above 10% Y/Y CC
Initiates Full Year FY25 GAAP Operating Margin Guidance of 20.4% and non-GAAP Operating Margin Guidance of 32.5%
Initiates Full Year FY25 Operating Cash Flow Growth Guidance of 21% to 24% Y/Y
'It's been a phenomenal year of transformation for Salesforce with strong performance across all our key metrics, including record cash flow and margin growth. Our total remaining performance obligation ended the fourth quarter at
With our trusted, unified Einstein 1 Platform, we're incredibly well positioned to build on our success and capitalize on the massive surge in tech spending expected over the coming years, delivering an unprecedented level of intelligence to our customers as AI transforms every company and industry.
'We had a strong close to our fiscal year and demonstrated significant progress on the profitable growth strategy we announced last year, delivering full year GAAP operating margin of 14.4% and Non-GAAP operating margin of 30.5%,' said
Salesforce delivered the following results for its fiscal fourth quarter and full fiscal year:
Revenue: Total fourth quarter revenue was
Fiscal 2024 revenue was
Operating Margin: Fourth quarter GAAP operating margin was 17.5%. Fourth quarter non-GAAP operating margin was 31.4%. Restructuring negatively impacted fourth quarter GAAP operating margin by (190) bps.
Fiscal 2024 GAAP operating margin was 14.4%. Fiscal 2024 non-GAAP operating margin was 30.5%. Restructuring negatively impacted fiscal 2024 GAAP operating margin by (280) bps.
Earnings per Share: Fourth quarter GAAP diluted EPS was
Fiscal 2024 GAAP diluted EPS was
Cash Flow: Cash generated from operations for the fourth quarter was
Cash generated from operations for the fiscal 2024 was
Remaining Performance Obligation: Remaining performance obligation ended the fourth quarter at
Salesforce Initiates Quarterly Dividend
Salesforce's Board of Directors declared a cash dividend of
Forward Looking Guidance
As of
Our guidance assumes no change to the value of the Company's strategic investment portfolio as it is not possible to forecast future gains and losses. In addition, the guidance below is based on estimated GAAP tax rates that reflect the Company's currently available information, and excludes forecasted discrete tax items such as excess tax benefits from stock-based compensation. The GAAP tax rates may fluctuate due to discrete tax items and related effects in conjunction with certain provisions in the Tax Cuts and Jobs Act, future acquisitions or other transactions.
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For additional information regarding non-GAAP financial measures see the reconciliation of results and related explanations below.
Management will provide further commentary around these guidance assumptions on its earnings call.
Product Releases and Enhancements
Three times a year Salesforce delivers new product releases, services, or enhancements to current products and services. These releases are a result of significant research and development investments made over multiple years, designed to help customers drive cost savings, boost efficiency, and build trust.
To view our major product releases and other highlights as part of the Spring 2024 Product Release, visit: www.salesforce.com/products/spring-24-release.
Quarterly Conference Call
Salesforce plans to host a conference call at
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