By Davit Kirakosyan

After the release of Q1 results by Salesforce, shares of the stock rose over 6% Tuesday. The EPS was $0.98 higher than the consensus estimate.

24% to $7.41 Billion year-over-year, as compared with the consensus estimate at $7.38 Billion. The revenue from subscription and support grew 24% over the year to $6.86billion. Professional services and other revenue increased 30% year-over year to $0.56billion.

“There is no greater measure of our resilience and the momentum in our business than the $42 billion we have in remaining performance obligation, representing all future revenue under contract,” Co-CEO Marc Benioff stated.

According to company estimates, Q2/23 revenue will be between $7.69 and $7.7 billion, which is lower than the consensus estimate at $7.77 billion. Non-GAAP earnings per share are expected to range from $1.01-1.02, compared with the consensus estimate of $1.14.

Revenue is projected to range from $31.7 to $31.8 billion for the entire 2023-year. This compares to $32.06 billion. Instead of the $4.65 consensus, EPS will be between $4.74 and $4.76.