Even Without Slack, Salesforce Expects to Grow at Least 20% This Year
Salesforce.com (NYSE: CRM) hit another quarterly earnings report out of the park and laid to rest some of the debate surrounding its core business. Worry has mounted that growth is slowing when excluding the pending acquisition of Slack (NYSE: WORK) from the equation.
However, revenue and free cash flow increased 23% and 99% year over year, respectively, to $5.96 billion and $3.23 billion in the first quarter. Even better was the updated guidance for full fiscal-year 2022 (the 12-month period that will end in Jan. 2022) that shows the company's core business is again expected to grow over 20%.
Specifically on that full-year guidance, Salesforce upgraded its expectations for revenue to be $25.9 billion to $26.0 billion this year (was about $25.7 billion before), a 22% increase from fiscal 2021. Also of note for those focused on the bottom line, adjusted earnings per share are expected to fall between $3.79 and $3.81 (previously a range of $3.39 to $3.41).
Source Fool.com
