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Salesforce reports strong demand in an uncertain market, lifts profit forecast

Marc Benioff, CEO, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020.
Adam Galasia | CNBC

Salesforce (CRM) reported better-than-expected fiscal 2023 first-quarter earnings Tuesday.

Revenue of $7.41 billion, up 26% year-over-year in constant currency, exceeded expectations of $7.38 billion, according to FactSet. Constant currencies help strip out fluctuations in foreign currency to provide a clearer financial picture. Non-GAAP earnings per share of $0.98 — inclusive of a one-cent benefit from mark-to-market accounting on strategic investments — beat estimates of $0.94.