Salesforce Q1 revenue up 11% to $8.2 billion
Salesforce.com Inc. announced Wednesday that its total revenue for the first quarter of fiscal 2024 rose by 11% to $8.2 billion.
Operating margin increased 470 bps to 5%, while diluted earnings per share jumped 567% to $0.20. Salesforce reported a $4.5 billion operating cash flow in the three months ending April 30. Besides, the company declared that in the same period, it returned $2.1 billion to stockholders in the form of share repurchases while reiterating full-year revenue guidance of $34.5 billion to $34.7 billion.
"Q1 represented another strong step forward as we accelerate our transformation and profitable growth strategy," said Amy Weaver, President and CFO of Salesforce. "Our team delivered another double-digit growth quarter on the top and bottom line as we help customers increase productivity, drive efficiency, and become AI-first companies." Salesforce's shares went down by 4.31% at 4:18 pm ET in after-hours trading to sell for $213.40.