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Salesforce.com (CRM) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended April 2023, Salesforce.com (CRM - Free Report) reported revenue of $8.25 billion, up 11.3% over the same period last year. EPS came in at $1.69, compared to $0.98 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.17 billion, representing a surprise of +0.95%. The company delivered an EPS surprise of +4.97%, with the consensus EPS estimate being $1.61.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Salesforce.com performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Full time equivalent headcount: 72970 versus 77554.53 estimated by three analysts on average.
Geographic Revenue- Americas: $5.48 billion compared to the $5.63 billion average estimate based on two analysts.
Geographic Revenue- Asia-Pacific: $814 million versus $791.18 million estimated by two analysts on average.
Geographic Revenue- Europe: $1.95 billion compared to the $1.75 billion average estimate based on two analysts.
Revenue- Professional services and other: $605 million compared to the $611.81 million average estimate based on 13 analysts. The reported number represents a change of +9% year over year.
Revenue- Subscription and support: $7.64 billion versus $7.56 billion estimated by 13 analysts on average. Compared to the year-ago quarter, this number represents a +11.5% change.
Revenue- Subscription and support- Service: $1.96 billion compared to the $1.94 billion average estimate based on four analysts. The reported number represents a change of +11.5% year over year.
Revenue- Subscription and support- Marketing and Commerce: $1.17 billion versus the four-analyst average estimate of $1.19 billion. The reported number represents a year-over-year change of +7.4%.
Revenue- Subscription and support- Platform and Other: $1.57 billion compared to the $1.57 billion average estimate based on four analysts. The reported number represents a change of +10.4% year over year.
Revenue- Subscription and support- Data: $1.13 billion versus $1.09 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +18.4% change.
Revenue- Subscription and support- Sales: $1.81 billion versus the four-analyst average estimate of $1.79 billion. The reported number represents a year-over-year change of +10.9%.
Shares of Salesforce.com have returned +12.9% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Salesforce.com (CRM) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended April 2023, Salesforce.com (CRM - Free Report) reported revenue of $8.25 billion, up 11.3% over the same period last year. EPS came in at $1.69, compared to $0.98 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.17 billion, representing a surprise of +0.95%. The company delivered an EPS surprise of +4.97%, with the consensus EPS estimate being $1.61.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Salesforce.com performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Full time equivalent headcount: 72970 versus 77554.53 estimated by three analysts on average.
- Geographic Revenue- Americas: $5.48 billion compared to the $5.63 billion average estimate based on two analysts.
- Geographic Revenue- Asia-Pacific: $814 million versus $791.18 million estimated by two analysts on average.
- Geographic Revenue- Europe: $1.95 billion compared to the $1.75 billion average estimate based on two analysts.
- Revenue- Professional services and other: $605 million compared to the $611.81 million average estimate based on 13 analysts. The reported number represents a change of +9% year over year.
- Revenue- Subscription and support: $7.64 billion versus $7.56 billion estimated by 13 analysts on average. Compared to the year-ago quarter, this number represents a +11.5% change.
- Revenue- Subscription and support- Service: $1.96 billion compared to the $1.94 billion average estimate based on four analysts. The reported number represents a change of +11.5% year over year.
- Revenue- Subscription and support- Marketing and Commerce: $1.17 billion versus the four-analyst average estimate of $1.19 billion. The reported number represents a year-over-year change of +7.4%.
- Revenue- Subscription and support- Platform and Other: $1.57 billion compared to the $1.57 billion average estimate based on four analysts. The reported number represents a change of +10.4% year over year.
- Revenue- Subscription and support- Data: $1.13 billion versus $1.09 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +18.4% change.
- Revenue- Subscription and support- Sales: $1.81 billion versus the four-analyst average estimate of $1.79 billion. The reported number represents a year-over-year change of +10.9%.
View all Key Company Metrics for Salesforce.com here>>>Shares of Salesforce.com have returned +12.9% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.