CRM leader Salesforce posts 23% rise in sales to $5.9 bn in first quarter

Salesforce, the global leader in CRM, announced results for its first quarter of fiscal 2022 ended April 30, 2021.
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“We had the best first quarter in our company’s history,” said Marc Benioff, Chair & CEO, Salesforce. “We believe our Customer 360 platform is proving to be the most relevant technology for companies accelerating out of the pandemic.”

Salesforce’s first quarter revenue was $5.96 billion, an increase of 23 percent year-over-year, and 20 percent in constant currency.

Subscription and support revenues for the quarter were $5.54 billion, an increase of 21 percent year-over-year.

Professional services and other revenues for the quarter were $0.43 billion, an increase of 47 percent year-over-year.

Salesforce is raising revenue guidance by $250 million to $26 billion for 2021. The revenue guidance represents 22 percent projected growth year-over-year. It is also raising operating margin to 18 percent. Salesforce will achieving $50 billion revenue by fiscal year 2026.