Summary by Moomoo AI
Salesforce, Inc., a global leader in CRM technology, announced its fiscal year 2024 financial results, highlighting a revenue increase of 11% to $34.9 billion. The company's income from operations rose significantly to $5.0 billion, compared to $1.0 billion the previous year, with diluted earnings per share at $4.20. Operating cash flow also saw a substantial increase of 44% to $10.2 billion. Salesforce's remaining performance obligation, representing future revenue under contract, grew by 17% to approximately $56.9 billion. The company completed the acquisition of Traction Sales and Marketing Inc. and announced a restructuring plan aimed at reducing operating costs and improving margins, which included workforce reductions and office space downsizing. Additionally, Salesforce declared its first-ever cash dividend of $0.40 per share and authorized a share repurchase program totaling $30 billion. The company's strategic investments faced market volatility, resulting in a net loss of $277 million. Salesforce's financial position remains strong with $14.2 billion in cash, cash equivalents, and marketable securities, and $11.4 billion in accounts receivable.