share_log

Salesforce | 10-K: FY2024 Annual Report

SEC ·  Mar 7 05:36

Summary by Futu AI

Salesforce, a global leader in CRM technology, reported a robust financial performance for fiscal 2024 with significant year-over-year growth. The company's revenue increased by 11% to $34.9 billion, while income from operations saw a substantial rise to $5.0 billion compared to $1.0 billion in the previous year. Operating margin improved to approximately 14%, up from 3% in the prior year. Diluted earnings per share also saw a dramatic increase to $4.20 from $0.21. Cash provided by operations grew by 44% to $10.2 billion, and the total cash, cash equivalents, and marketable securities stood at $14.2 billion as of January 31, 2024. Salesforce's remaining performance obligation grew by 17% to approximately $56.9 billion, indicating strong future revenue potential. The company repurchased approximately 36 million shares for $7.7 billion under its Share Repurchase Program. Salesforce also...Show More
Salesforce, a global leader in CRM technology, reported a robust financial performance for fiscal 2024 with significant year-over-year growth. The company's revenue increased by 11% to $34.9 billion, while income from operations saw a substantial rise to $5.0 billion compared to $1.0 billion in the previous year. Operating margin improved to approximately 14%, up from 3% in the prior year. Diluted earnings per share also saw a dramatic increase to $4.20 from $0.21. Cash provided by operations grew by 44% to $10.2 billion, and the total cash, cash equivalents, and marketable securities stood at $14.2 billion as of January 31, 2024. Salesforce's remaining performance obligation grew by 17% to approximately $56.9 billion, indicating strong future revenue potential. The company repurchased approximately 36 million shares for $7.7 billion under its Share Repurchase Program. Salesforce also implemented a Restructuring Plan, reducing its workforce by about 10% and decreasing office space, which contributed to a reduction in operating expenses and improved operating margins. In terms of business development, Salesforce continues to invest in growth, focusing on AI across all products and expanding its leadership in cloud computing. The company is also leveraging key growth levers such as service offering adoption, enterprise and international customer penetration, and industry-specific solutions. Looking ahead, Salesforce plans to further improve operating expenses and drive operational efficiencies through various restructuring initiatives.

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.