(Salesforce) Shares of Salesforce rose more than 7% in premarket on Wednesday despite its net income in the first quarter of 2023 falling to $28 million. The income was lower than $469 million in the prior year.
In the quarter, the diluted earnings per share were $0.03, lower than an income per share of $0.50 in the prior year.
Salesforce’s total revenues came at $7.411 billion in the first quarter, higher than revenue of $5.963 billion in the prior year.
Salesforce remained optimistic about the year ahead, with revenue projections of between $7.69 billion to $7.70 billion in the second quarter, up 21% year-over-year. Revenue in FY23 revenue is expected at between $31.7 billion and $31.8 billion, an increase of 20% year-over-year.
GAAP EPS in the second quarter is expected at between minus $0.03 to minus $0.02. The loss per share in FY23 is expected between positive $0.38 and $0.40.
CRM: NYSE is up +7.40% in premarket.
