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Salesforce rolls out first-ever dividend as Q4 results, guidance beat estimates

February 28, 2024 4:22 PM EST

Investing.com -- Salesforce on Wednesday delivered upbeat guidance and posted better-than-expected fourth-quarter earnings as a step up in enterprise spending bolstered performance, paving the way for the cloud software maker to roll out its first quarterly dividend and upgrade its stock buyback plan.

For the three months ended Jan. 31, Salesforce reported adjusted earnings of $2.29 per diluted share, up from $1.68 a year earlier, on revenue of $9.29B, up from $8.38B a year earlier. That topped Wall Street estimates of $2.27 on revenue of $9.22B.

Current remaining performance obligation, or cPRO, a bookings metric, jumped 12% to $27.6B at the end of Q4 year-on-year.

Looking ahead, the company guided Q1 adjusted EPS of $2.37 to $2.39 on revenue of $9.12B to $9.17B, topping estimates of $2.2 on revenue of $9.14B.

For the full-year the company sees adjusted EPS of $9.68 to $9.76 on revenue of $37.7B to $38.0B.

The company initiated its first ever quarterly dividend of $0.40 a share, and increased its share buyback plan by $10B.

Salesforce Inc (NYSE: CRM) fell 5% in afterhours trading following the report.


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