Salesforce Q1 revenue slightly below expectations, lifted adjusted EPS guidance for 2025

From CNBC: 2024-05-29 18:01:52

Salesforce CEO, Marc Benioff, at the World Economic Forum in Davos, saw shares drop 17% after weak revenue and lower guidance. Fiscal Q1 revenue was $9.13 billion vs. expected $9.17 billion. Adjusted EPS was $2.44 vs. expected $2.38. Salesforce expects Q2 EPS of $2.34-$2.36 on $9.2-$9.25 billion in revenue.

In fiscal Q1, revenue increased 11% to $9.13 billion with net income jumping to $1.53 billion. Professional Services revenue was down 9% at $548 million. Salesforce lifted 2025 adjusted EPS guidance to $9.86-$9.94, with revenue at $37.7-$38 billion.

Salesforce executives expect deal compression and slowing projects in professional services. The company launched the Einstein Copilot assistant and gave paid Slack customers access to AI features. Talks to buy Informatica have collapsed. Salesforce will need clear value accretion timelines for future acquisitions, shares dropped 17%.



Read more at CNBC:: Salesforce (CRM) Q1 earnings report 2025