Salesforce beats by $0.22, reports revs in-line; guides Q3 EPS above consensus, revs above consensus; guides FY24 EPS above consensus, revs above consensus (215.09 +3.05)
- Reports Q2 (Jul) earnings of $2.12 per share, excluding non-recurring items, $0.22 better than the FactSet Consensus of $1.90; revenues rose 11.4% year/year to $8.60 bln vs the $8.53 bln FactSet Consensus.
- Current Remaining Performance Obligation of $24.1 Billion, up 12% Y/Y, 11% CC.
- Q2 non-GAAP operating margin was 31.6%.
- Co issues upside guidance for Q3 (Oct), sees EPS of $2.05-2.06, excluding non-recurring items, vs. $1.84 FactSet Consensus; sees Q3 revs of $8.70-8.72 bln vs. $8.67 bln FactSet Consensus.
- Co issues upside guidance for FY24, sees EPS of $8.04-8.06, excluding non-recurring items, vs. $7.42 FactSet Consensus; sees FY24 revs of $34.70-34.80 bln vs. $34.66 bln FactSet Consensus.
- "Our transformation drove our strong second quarter results, delivering revenue of $8.6 billion and record GAAP and non-GAAP operating margins," said Marc Benioff, Chair and CEO of Salesforce. "Based on our performance and what we see in the back half of the year, we're raising our fiscal year ‘24 revenue, operating margin, and operating cash flow growth guidance."