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.

The consensus estimate for $7.38billion was higher by 24%, while $7.41billion grew year over year. Subscriber and support revenue grew by 24% to $6.86 Billion, while professional services and other revenues increased 30% to $0.56 Billion.

“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.

Company estimates Q2/23 revenue at $7.69-7.7 Billion, up from the $7.77B consensus. Non-GAAPEPS are estimated to be between $1.01 and $1.02, versus $1.14 consensus.

The revenue for 2023 is estimated to reach $31.7-$1.8 billion. That’s a significant increase from the $32.06 million consensus estimate. Instead of the $4.65 consensus, EPS will be between $4.74 and $4.76.