Salesforce Declares Fiscal 2018 1st- Quarter Results: Salesforce (NYSE: CRM)
- Increases FY18 Revenue Guidance to $10.250B to $10.3B
- 1st- Quarter Revenue of $2.390B, up 25.00 percent yoy, 25.00 percent in Constant Currency
- 1st- Quarter Operating Cash Flow of $1.230B, up 17.00 percent yoy
- Deferred Revenue of $5.040B, up 26.00 percent yoy, 27.00 percent in Constant Currency
- Unbilled Deferred Revenue of Approximately $9.60B, up 26.00 percent yoy
- Initiates 2nd- Quarter Revenue Guidance of $2.510B to $2.520B
- Increases FY18.00 GAAP EPS Guidance to $0.060 to $0.080
- Increases FY18.00 Non-GAAP EPS Guidance to $1.280 to $1.3
- Salesforce (NYSE: CRM), the worldwide leader in CRM, recently declared results for its fiscal 1st- quarter finished April 30, 2017.
“With our exceptional 1st- quarter results, we are thrilled to be increasing our fiscal 2018 revenue guidance by $100.00M and increasing our GAAP and non-GAAP EPS expectations for the year,” said Marc Benioff, chairman and CEO, Salesforce. “Salesforce has once again been named the CRM market leader, and we carry on to develop our share in CRM — the fastest rising enterprise software market.”
Salesforce delivered the following results for its fiscal 1st- quarter 2018:
- Revenue: Total Q1 revenue was $2.390B, a increase of 25.00 percent yoy, and 25.00 percent in constant currency. Subscription and support revenues were $2.20B, a increase of 24.00 percent yoy. Professional services and other revenues were $187.00M, a increase of 32.00 percent yoy.
- EPS: Q1 GAAP loss per share was ($0.010), and non-GAAP diluted EPS was $0.280.
- Cash: Cash generated from operations for the 1st- quarter was $1.230B, a increase of 17.00 percent YOY. Total cash, cash equivalents and marketable securities finished the quarter at $3.220B.
- Deferred Revenue: Deferred revenue on the balance sheet as of April 30, 2017 was $5.040B, a increase of 26.00 percent yoy, and 27.00 percent in constant currency. Unbilled deferred revenue, representing business that is contracted but unbilled and off balance sheet, finished the 1st- quarter at approximately $9.60B, up 26.00 percent yoy. This includes approximately $450.00M related to unbilled deferred revenue from Demandware.
- As of May 18, 2017, the company is initiating revenue, EPS, and deferred revenue guidance for its 2nd- quarter of fiscal year 2018. In addition, the company is increasing its complete fiscal year 2018 revenue and EPS guidance, and maintaining its operating cash flow guidance, formerly offered on February 28, 2017.
- Q2 FY18 Guidance: Revenue is projected to be approximately $2.510B to $2.520B, a increase of 23.00 percent to 24.00 percent yoy.
- GAAP diluted EPS is projected to be $0.00 to $0.010, while non-GAAP diluted EPS is projected to be $0.310 to $0.320.
- On balance sheet deferred revenue growth is projected to be approximately 22.00 percent yoy.
- Full Year FY18 Guidance: Revenue is projected to be approximately $10.250B to $10.3B, a increase of 22.00 percent to 23.00 percent yoy.
- GAAP diluted EPS is projected to be $0.060 to $0.080, while non-GAAP diluted EPS is projected to be $1.280 to $1.3.
- Operating cash flow growth is projected to be 20.00 percent to 21.00 percent yoy.
Quarterly Conference Call:
Salesforce will have a conference/discussion call at 2:00 p.m. (PT) / 5:00 p.m. (ET) recently to talk approximately its financial results with the investment community. A live web broadcast of the event will be obtainable on the Salesforce investor Relations website. A live dial-in is obtainable domestically at 866-901-SFDC or 866-901-7332 and globally at 706-902-1764, password 14740454. A replay will be accessible at (800) 585-8367 or (855) 859-2056 until midnight (ET) June 18, 2017.