US-based Salesforce Inc, a provider of cloud-based enterprise customer engagement solutions, has increased net income by 37% and revenue by 13% in the first quarter of fiscal 2027.
According to a company press release, net income for the February-April period was $2.107bn, or $2.42 per share, compared to $1.541bn ($1.59 per share) for the comparable period of the previous fiscal year. Adjusted earnings rose to $3.88 from $2.58 per share.
Revenue climbed to $11.13 billion from $9.83 billion a year earlier. Sales in the support and subscription segment rose 14% to $10.59bn.
Analysts surveyed by FactSet on average expected adjusted earnings of $3.13 per share, while revenue matched estimates.
The company paid nearly $27.5 billion to shareholders last fiscal quarter, including $27.1 billion through share repurchases.
Salesforce is targeting revenue in the range of $11.27 billion to $11.35 billion for the second fiscal quarter, which would represent 10-11% year-over-year growth. By the end of fiscal 2027, it expects revenue of $45.9-46.2 billion (an increase of about 11%).
Experts estimate the company’s revenue for the current quarter at $11.36 billion, according to LSEG.
Salesforce stock prices in additional trading on Wednesday fell by 1.3%. The company’s capitalisation over the past three months decreased by 11% (to $146 billion), while the Dow Jones Industrial Average stock index rose by 2.4%.