Salesforce posts record Q4 results, with $1B in sales from the “Data” business

Salesforce on Tuesday posted better-than-expected fourth quarter financial results, with every segment of its Subscription and Support business bringing in more than $1 billion in quarterly revenues. The CRM giant also raised its guidance for the current quarter. 

Overall, Salesforce’s non-GAAP diluted earnings per share was 84 cents on revenue of $7.33 billion, up 26% year-over-year.  

Analysts were expecting earnings of 75 cents per share on revenue of $7.24 billion. 

Total fiscal 2022 revenue was $26.49 billion, up 25% year-over-year. 

“With our customers’ success driving our financial success, we’re generating disciplined, profitable growth at scale quarter after quarter,” co-CEO Bret Taylor said in a statement. “Our Customer 360 platform has never been more strategic or relevant in driving the growth and resilience of our customers around the world.” 

Subscription and support revenues for the quarter were $6.83 billion, an increase of 25% year-over-year. Professional services and other revenues for the quarter were $0.5 billion, an increase of 46% year-over-year.

Breaking down subscription and support revenues, the strongest category was “platform and other,” growing 53% year-over-year to $1.35 billion. That category includes Platform 360 and Slack. 

Data grew 23% to $1.136 billion, marking the first time the sub-category posted more than $1 billion in a quarter. Data subscription and support revenue includes Mulesoft, Tableau and Tableau CRM. This doesn’t comprise the total revenue from Mulesoft and Tableau, which includes both professional services revenue and subscription and support revenue. 

Sales grew 17% to $1.586 billion, while Service grew 18% to $1.71 billion. Marketing & Commerce grew 20% to $1.046 billion in revenue for the quarter. 

Salesforce gave a Q1 revenue outlook of  $7.37 billion to $7.38 billion.