Salesforce shares pop following earnings beat

 

Salesforce shares jumped more than 16% during extended trading on Wednesday after the company reported better-than-expected Q4 and full fiscal 2023 results.  The company reported Q4 revenue of $8.38B, up 14% YoY. Revenue from "subscriptions and support," which includes Slack, was $7.79B, up from $6.83B reported in the prior year. Revenue from "professional services and other" was $595M, up from $498M reported last year. Salesforce reported a net loss of $98M for the quarter, from a net loss of $28M reported last year. EPS was negative 10 cents. For the full fiscal 2023, the company reported a net income of $208M, down from the $1.44B reported in fiscal 2022. Salesforce earned $31.35B in revenue for the entire fiscal year, up from $26.49B reported in FY2022. Salesforce shares closed at $167.35 on Wednesday, up ~2.3%.