CLAIM #17076 · Salesforce.com Inc (CRM) · 2023Q3 earnings call · Nov 30, 2022 · due Jan 31, 2023
“Now for this fiscal year, we're maintaining our revenue guidance of $30.9 billion to $31 billion, up 17% year-over-year or 20% in constant currency.”
Marc Benioff · Chair and Co-CEO
How to check this claim
Look at: Total company revenue for fiscal year 2023, as reported (and constant-currency growth rate)
It came true if: Full-year revenue between $30.9 billion and $31.0 billion
Where: Company income statement / press release (fiscal year 2023 results, reported early 2023)
In context
“we didn't believe this challenging macro environment was going to be a short-term problem. And you know we're not economists. You know that we don't know exactly what is happening or when the recovery will happen, et cetera, but we do see a lot, and I think we understand a lot about what's going on, because we have such strong global data. And we're not assuming that this economy gets any better anytime soon. We're just reporting what we see with our customers, the kind of changes they make, when they start to feel these headwinds. We're following our playbook to make sure we’re well positioned to gain market share, to increase our profitability, to focus on our operating margin, to focus on the growth of our revenue and be able to continue to invest, especially when the economy recovers. Now for this fiscal year, we're maintaining our revenue guidance of $30.9 billion to $31 billion, up 17% year-over-year or 20% in constant currency. And you saw that, that also included that incremental foreign exchange headwind, and it's even an expected incremental $100 million of foreign exchange headwind just since last quarter. We're raising our fiscal year 2023 non-GAAP operating margin guidance from 20.4% to 20.7%, an expansion of 200 basis points year-over-year, and I expect a lot more, especially with this increased focus we have on expanding our operating margin. Salesforce is mission-critical to nearly every Fortune 1000 company, because every company is becoming a customer company. And everyone knows that this is the time during a crisis like this that you need to focus on your customers. If you need to do one thing, if there's one critical thing that every company has to do to get through this, is to make sure they mainta”
Verify independently
SEC filings for CRM ↗ · Claim quote is verbatim from the 2023Q3 earnings call.