Salesforce beat the Q4 market estimates with its fourth-quarter financial results, which was published on Thursday. Slack, a workplace chat messaging platform which was later acquired by Salesforce in December for an astonishing $27.7 billion, also declared solid fourth-quarter results, adding a record number of new paid customers. Despite the strong quarter, Salesforce shares were down in after-hours trading amid market skepticism over the acquisition.
Salesforce’s fourth-quarter non-GAAP diluted earnings per share came to $1.04 on revenue of $5.82 billion, up 20 percent year-over-year. Analysts were anticipating earnings of 75 cents on revenue of $5.68 billion. For the whole FY2021, non-GAAP Diluted Earnings Per Share (EPS) were $4.92 on revenue of $21.25 billion, up 24 percent year-over-year.
CEO Marc Benioff in a statement stated that a year ago they could have never predicted what was in store, which makes him extremely pleased with how his company answered the criticism and adapted to this pandemic world. He additionally stated that the company observed a record quarter and year by its innovations in technology faster than ever, allowing their clients to grow its business from any part of the globe. And he concludes his statement by stating, the company continued to serve all of its stakeholders in this tough period when they needed it most.
Meanwhile, Slack added 14,000 new paid customers in Q4 and ended the year with 156,000. The company now has 1,180 paying customers who have more than $100,000 in annual recurring revenue and more than 106 paid customers with more than $1,000,000 in annual recurring revenue.
Cumulative revenue for the year was $902.6 million, a rise of 43 percent year-over-year.
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