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5/31, 10:07 PM (Source: TeleTrader)
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Salesforce: EPS down 94% to $0.03 in Q1

Salesforce Inc. revealed on Tuesday that its GAAP diluted earnings per share for the first quarter of fiscal 2023 came in at $0.03, down 94% compared to the same time frame the year prior.

Revenues jumped 24% year on year to $7.41 billion and gross profit grew 22% to $5.37 billion. The first-trimester income from operations dropped 94% on an annualized basis to $20 million and net income also plummeted 94% from a year ago to $28 million.

"There is no greater measure of our resilience and the momentum in our business than the $42 billion we have in remaining performance obligation, representing all future revenue under contract," Co-CEO Marc Benioff said. "We have been able to deliver strong growth while also driving disciplined decision-making, enabling us to expand our operating margin guidance for the full year," President and CFO Amy Weaver added.

Salesforce's shares were 5.59% up in late trading following the report's release.

Baha Breaking News (BBN) / MS