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Salesforce (CRM) Q3 FY2022 earnings: revenue $6.9 billion, up 26.6% on the year

Salesforce, Inc. (CRM) reported revenue of $6.9 billion for Q3 FY2022, the quarter ended 31 October 2021, up 26.6% on the same quarter a year earlier as this quarter's filing gives it. Net income was $468 million, down 56.7% on the year as this quarter's filing gives it, and diluted earnings per share $0.47. The figures are the company's own, from the 10-Q it filed with the SEC on 2 December 2021.

Revenue
$6.9 billion
+26.6% on the year · +8.2% on the quarter
Q4 FY2020Q3 FY2022
Operating margin
0.6%
4.1% a year earlier
Q4 FY2020Q3 FY2022
Net income
$468 million
-56.7% on the year · -12.5% on the quarter
Q4 FY2020Q3 FY2022
Diluted EPS
$0.47
-59.1% on the year · -16.1% on the quarter
Q4 FY2020Q3 FY2022

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ3 FY2022Q2 FY2022Q3 FY2021On the quarterOn the yearLast 8 quarters
Revenue6,8636,3405,419+8.2%+26.6%
Cost of revenue1,844n/an/a
Gross profit5,019n/an/a
Gross margin73.1%n/an/a
Research and development1,203n/an/a
Operating income38.0332224-88.6%-83.0%
Operating margin0.6%5.2%4.1%
Interest expense72.0n/an/a
Pre-tax income299n/an/a
Income tax-169n/an/a
Effective tax rate-56.5%n/an/a
Net income4685351,081-12.5%-56.7%
Net margin6.8%n/an/a
Diluted EPS$0.47$0.56$1.15-16.1%-59.1%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ3 FY2022Q2 FY2022Q3 FY2021On the quarterOn the yearLast 8 quarters
Operating cash flow404n/an/a
Capital expenditure166n/an/a
Free cash flow238n/an/a
Free cash flow margin3.5%n/an/a
Cash from investing-976n/an/a
Cash from financing-970n/an/a
Depreciation and amortisation963719670+33.9%+43.7%
Share-based compensation812n/an/a
Buybacks0.0n/an/a
Diluted shares, weighted1,001m950m939m+5.4%+6.6%
Shares outstanding at period end985m979m915m+0.6%+7.7%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ3 FY2022Q2 FY2022Q3 FY2021On the quarterOn the yearLast 8 quarters
Shareholders' equity57,05455,52040,310+2.8%+41.5%
Debt10,61111,9312,691-11.1%+294.3%
Operating lease liabilities2,722n/an/a
Other liabilities17,049n/an/a
Total liabilities and equity87,436n/an/a
Fixed assets2,768n/an/a
Goodwill47,951n/an/a
Intangible assets9,472n/an/a
Investments4,638n/an/a
Cash and equivalents4,7536,2993,724-24.5%+27.6%
Receivables4,019n/an/a
Other assets13,835n/an/a
Total assets87,436n/an/a

Questions

What was Salesforce's revenue in Q3 FY2022?

Salesforce (CRM) reported revenue of $6.9 billion for Q3 FY2022, the quarter ended 31 October 2021, up 26.6% on the same quarter a year earlier as the company restated it.

How much did Salesforce earn in Q3 FY2022?

Net income for Q3 FY2022 was $468 million, down 56.7% on the year, and diluted earnings per share $0.47.

When did Salesforce report Q3 FY2022 results?

Salesforce filed its 10-Q for the quarter ended 31 October 2021 with the SEC on 2 December 2021.

Quarterly results, the last 20 quarters

Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *Q1 FY2027Q2 FY2027
Revenue6,8637,3267,4117,7207,8378,3848,2478,6038,7209,2879,1339,3259,4449,9939,82910,23610,25911,20111,13311,345
Cost of revenue1,8442,0142,0452,1272,0882,1002,1252,1132,1552,1482,1622,1592,1052,2172,2652,2422,2552,5082,5702,649
Gross profit5,0195,3125,3665,5935,7496,2846,1226,4906,5657,1396,9717,1667,3397,7767,5647,9948,0048,6938,5638,696
Gross margin73%73%72%72%73%75%74%75%75%77%76%77%78%78%77%78%78%78%77%77%
R&D1,2031,2911,3181,3291,2801,1281,2071,2201,2041,2751,3681,3491,3561,4201,4601,4811,4331,6191,6271,687
Operating income38.0-17620.01934603574121,4761,5011,6221,7091,7831,8931,8201,9422,3322,1881,8692,3472,331
Operating margin1%-2%0%2%6%4%5%17%17%17%19%19%20%18%20%23%21%17%21%21%
Interest expense72.071.0n/an/an/an/an/an/an/an/a69.068.067.068.068.067.067.0122317473
Pre-tax income299-197-29.018147533.03261,4921,4871,6451,8671,8371,7461,9881,9742,4062,5122,6282,7214,552
Tax rate-57%n/an/a62%56%397%39%15%18%12%18%22%13%14%22%22%17%26%23%23%
Net income468-28.028.068.0210-98.01991,2671,2241,4461,5331,4291,5271,7081,5411,8872,0861,9432,1073,526
Net margin7%-0%0%1%3%-1%2%15%14%16%17%15%16%17%16%18%20%17%19%31%
Diluted EPS$0.47-$0.05$0.03$0.07$0.21-$0.10$0.20$1.28$1.25$1.47$1.56$1.47$1.58$1.75$1.59$1.96$2.19$2.07$2.42$4.29
Operating cash flow4041,9823,6763343132,7884,4918081,5323,4036,2478921,9833,9706,4767402,3165,4646,7011,269
Capital expenditure166167179203198218243180166147163137204154179135139141145171
Free cash flow2381,8153,4971311152,5704,2486281,3663,2566,0847551,7793,8166,2976052,1775,3236,5561,098
Buybacks0.0n/a0.00.01,6772,3232,0541,9491,9251,6922,1334,3351,28576.02,6332,2253,8013,93727,24884.0
Dividends paidn/an/a0.00.00.00.00.00.00.00.0388384382383402399395391365364
Shares outstanding985m989m995m1,000m1,000m1,009m974m973m968m971m969m956m957m962m956m952m937m929m819m823m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 October 2021, filed 2 December 2021: the filing.