Salesforce announced results for its full fiscal year ended January 31, 2023.
“For the full year we delivered $31.4 billion in revenue, up 18% year-over-year, or 22% in constant currency, one of the best performances of any enterprise software company our size,” said Marc Benioff, Chair and CEO of Salesforce. “We closed FY23 with operating cash flow reaching $7.1 billion, up 19% year-over-year, the highest cash flow in our company’s history, and one of the highest cash flows of any enterprise software company our size.”
Salesforce delivered the following results for its fiscal fourth quarter and full fiscal year:
2022-23 Salesforce revenue
Total fiscal revenue was $31.35 billion, an increase of 18% year over year (Y/Y).
Subscription and support revenues were $29.02 billion, an increase of 18% Y/Y. Professional services and other revenues were $2.33 billion, an increase of 27% Y/Y.
2022-23 Salesforce operating margin:
GAAP operating margin was 3.3%. Fiscal 2023 non-GAAP operating margin was 22.5%. Restructuring impacted fiscal 2023 GAAP and non-GAAP operating margin by (260) bps and +40 bps, respectively.
2022-23 Salesforce earnings per share
Fiscal 2022-2023 GAAP diluted EPS was $0.21, and non-GAAP diluted EPS was $5.24. Mark-to-market accounting of the company’s strategic investments negatively impacted GAAP diluted EPS by $(0.18) based on a U.S. tax rate of 25% and non-GAAP diluted EPS by $(0.19) based on a non-GAAP tax rate of 22%. Restructuring impacted fiscal 2023 GAAP and non-GAAP diluted EPS by (83) cents and +9 cents, respectively.
2022-23 Salesforce cash flow
Cash generated from operations for fiscal 2023 was $7.1 billion, an increase of 19% Y/Y. Free cash flow was $6.3 billion, an increase of 19% Y/Y. Restructuring impacted fiscal 2023 operating cash flow growth by (120) bps.