CRM Results: Salesforce Q3 earnings beat; revenues rise 14%

November 30, 2022May 31, 2023

Customer relationship management platform Salesforce, Inc. (NYSE: CRM) on Wednesday reported an increase in third-quarter adjusted earnings, aided by double-digit growth in revenues. The numbers surpassed analysts’ predictions.

Third-quarter profit, excluding non-recurring items, increased to $1.40 per share from $1.27 per share in the same quarter last year. Experts had forecast a decline. Net income, on an unadjusted basis, came in at $210 million or $0.21 per share, compared to $468 million or $0.47 per share in the corresponding period of 2022.

Revenues advanced 14% year-over-year to $7.84 billion, which also topped analysts’ expectations. All the key operating segments registered growth during the three-month period.

Check this space to read management/analysts’ comments on quarterly results

“We’re grateful to our customers for their commitment, especially as we help them succeed in this challenging environment. There’s never been a more important time for our customers to connect with their customers in a whole new way,” said Marc Benioff, co-CEO of Salesforce.