Salesforce Q3 Earnings Highlights: EPS Beat, Revenue Up 11%, Strong Guidance, 'Number One AI CRM' And More

salesforce.com, inc. -1.15%

salesforce.com, inc.

CRM

283.76

-1.15%

Salesforce Inc (NYSE:CRM) reported third-quarter financial results after the close on Wednesday. Here's a look at the key metrics from the quarter.

Q3 Earnings: Salesforce said third-quarter revenue increased 11% year-over-year to $8.72 billion, versus the consensus estimate of $8.72 billion, according to Benzinga Pro. The company reported quarterly earnings of $2.11 per share, which beat analyst estimates of $2.06 per share.

Cash flow from operations was up 389% year-over-year to $1.53 billion and free cash flow was up 1,088% to $1.37 billion. Operating margin came in at 17.2% for the third quarter. 

"We're now the third largest enterprise software company by revenue, the number one AI CRM and the number one enterprise apps company. Most importantly, we're bringing CRM, data, AI and trust together in a single, integrated platform, leading our customers into a new era of incredible productivity and growth," said Marc Benioff, chair and CEO of Salesforce.

Outlook: Salesforce sees fourth-quarter revenue in a range of $9.18 billion to $9.23 billion versus estimates of $8.4 billion. The company expects fourth-quarter adjusted earnings of $2.25 to $2.26 per share versus estimates of $1.98 per share. 

Salesforce expects full-year revenue to be in a range of $34.75 billion to $34.8 billion versus estimates of $31.75 billion. The company sees full-year adjusted earnings between $8.18 and $8.19 per share versus estimates of $7.35 per share. 

Management will hold a conference call to discuss these results at 5 p.m. ET.

Don't Miss: Salesforce Q3 Earnings Preview: Focus On Operating Costs, Profit Margins, Slack's Leadership And Einstein GPT Integration

CRM Price Action: Salesforce shares were up 4.39% after hours at $240.67 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Salesforce.

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