Source: Dreamstime
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On Wednesday, shares of the cloud computing solutions company rose by 3% in extended hours trading after its second-quarter results outperformed analyst expectations. But that’s not the whole story, for in the last three months Salesforce also acquired the leading business communications platform Slack.
Financial performance for Q2 2022
Here are the main financial highlights from Salesforce’s earnings release:
– Gross revenue: $6.34 billion (23% y/y growth) vs. $6.24 billion expected
– Earnings per share: $1.48 vs. $0.92 expected
– Core Sales Cloud product (used by sales reps to stay current with the latest business opportunities): $1.48 billion (15% growth)
– Service Cloud segment: $1.60 billion (23% growth)
– Platform and Other unit (includes integration and data-analytics software): $1.88 billion (24% growth)
– Acquisitions: in the quarter, the company acquired business communications giant Slack for $27.7 billion
– Announcements: in the last three months, Salesforce announced that it will build new tools, aimed at improving the workflow of investment banks through its Financial Services Cloud, as well as release its Work.com software for employee wellness
– COVID-19 recovery: so far, the company has opened roughly half of its offices since the onset of the global pandemic
Forecast for Q3 2022
“I don’t think the delta variant will be material to our business. If anything, it accelerates it”.
Marc Benioff, CEO
For the period, Salesforce now expects earnings per share of between 91 and 92 cents and gross revenue ranging from $6.78 billion to $6.79 billion. In terms of FY 2022, these figures are now $4.36 to $4.38 and $26.2 to $26.3 billion, respectively. The yearly revenue estimate also includes $530 million in earnings from the newly acquired Slack platform – $30 million more than what the company had anticipated in the prior quarter.
Upcoming reports
See the full list of upcoming earnings reports for August 30th – September 3rd in the tables below.
Monday, 30th August 2021
| Country | Company | Fiscal period |
|---|---|---|
| USA | Zoom Video Communications Inc | Q2 2022 |
Tuesday, 31 August 2021
| Country | Company | Fiscal period |
|---|---|---|
| USA | Ambarella Inc | Q2 2022 |
| United Kingdom | Bunzl PLC | Half Year 2021 |
| Norway | Norwegian Air Shuttle ASA | Q2 2021 |
Wednesday, 1st September 2021
| Country | Company | Fiscal period |
|---|---|---|
| Belgium | D'Ieteren Group NV | Q2 2021 |
| France | Pernod Ricard SA | Full Year 2021 |
Thursday, 2nd September 2021
| Country | Company | Fiscal period |
|---|---|---|
| USA | Broadcom Inc | Q3 2021 |
| USA | Hewlett Packard Enterprise Co | Q3 2021 |
| United Kingdom | Barratt Developments PLC | Full Year 2021 |
| Kingdom of the Netherlands | VEON Ltd | Q2 2021 |
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