Daniel Aharonoff: Earnings Engage: The Business Pulse

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Salesforce reported revenue of $5.96 billion for the first quarter, a 23% increase from the same period last year.
The company raised its full-year revenue guidance to $25.9 billion to $26 billion, up from $25.65 billion to $25.75 billion.
Salesforce shares fell as much as 4% in extended trading on Thursday following the announcement.
Salesforce on Thursday reported earnings for the first quarter of its 2024 fiscal year, which ended April 30, 2023.
The company reported:
Earnings: $1.21 per share, adjusted, vs. 88 cents per share as expected by analysts, according to Refinitiv.
Revenue: $5.96 billion, vs. $5.89 billion as expected by analysts, according to Refinitiv.
Revenue grew 23% on an annualized basis in the quarter, according to a statement. Sales increased by 24% in the previous quarter, and by 20% in the quarter before that.
Salesforce's largest segment, the platform and other category, posted $4.7 billion in revenue, up 23% year over year. The company's sales cloud segment, its second-largest by revenue, saw 14% annualized revenue growth to $1.7 billion. The service cloud segment, the smallest of Salesforce's top three segments, grew by 30% to $552 million.
The company's biggest acquisition to date, the $27.7 billion purchase of messaging app Slack, which closed in July, contributed $480 million in revenue in the quarter, Salesforce said.
The company raised its full-year revenue guidance to $25.9 billion to $26 billion, up from $25.65 billion to $25.75 billion. It said it expects second-quarter revenue of $6.22 billion to $6.23 billion.
Salesforce shares fell as much as 4% in extended trading on Thursday following the announcement. The stock had closed regular trading at $240.45, down 0.6%.
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