Salesforce shares soar 14% after optimistic full-year outlook
Salesforce shares soared 14% in after-hours trading on Wednesday after it released its financial results for 4Q 2023. According to the company's financial statement, revenue jumped 14% year-on-year to $8.38 billion, above the $7.99 billion expected by analysts.
The cloud software company forecasts revenue for the first quarter of 2024 from $8.16 to $8.18 billion and for fiscal 2024 between $34.5 and $34.7 billion. "We closed FY23 with operating cash flow reaching $7.1 billion, up 19% year-over-year, the highest cash flow in our company's history, and one of the highest cash flows of any enterprise software company our size," said Marc Benioff (pictured), Chair and CEO of Salesforce while commenting the results.
At 4:19 pm ET, Salesforce shares were up 14.45% to sell for $191.59.