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.