Salesforce is aiming to hit nearly $32 billion in revenue for fiscal 2023.
The outlook comes as Salesforce kicked off its investor meeting at Dreamforce. The company upped its fiscal 2022 revenue guidance to between $26.25 billion to $26.35 billion.
Wall Street was looking for fiscal 2022 revenue of $26.31 billion.
Salesforce’s fiscal year ends Jan. 31.
The company also initiated 2023 revenue guidance of $31.65 billion to $31.8 billion with non-GAAP operating margins of 20% or 3 to 3.5% GAAP. Wall Street was expecting revenue of $31.47 billion.
In a presentation to analysts, CFO Amy Weaver said the company was seeing strong demand and can expand with both SMBs and the self-serve channel as well as international customers. Weaver also said that Salesforce doesn’t see many opportunities for big strategic acquisitions at the moment. She also noted that Salesforce is being disciplined about spending.
“We are making disciplined choices on how we’re spending across the management team,” said Weaver.
Weaver also said that Salesforce is seeing operating margin improvement due to the new world of work. “We’ve learned entirely different way of working in the pandemic. Six months ago, I would have said the changes would be temporary. Now these changes are the new world. We can sell effectively without being on a plane every day. We don’t need the space we have now,” said Weaver.
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