Salesforce reports strong demand, raises earnings forecast

Marc Benioff, CEO of speaks at the World Economic Forum in Davos, Switzerland, January 23, 2020.

Adam Galcia | CNBC

sales force (CRM) reported better-than-expected fiscal year 2023 earnings for the first quarter on Tuesday.

Revenue was $7.41 billion, up 26% year-over-year in constant currency, and it beat expectations of $7.38 billion, according to FactSet. Fixed currencies help remove fluctuations in foreign currencies to provide a clearer financial picture. Non-GAAP earnings per share exceeded estimates of $0.98 – including 1 cent market rate accounting interest on strategic investments – from estimates of $0.94.