Salesforce reports strong demand, raises earnings forecast

Salesforce.com CEO Marc Benioff speaks at the World Economic Forum in Davos, Switzerland, on January 23, 2020.

Adam Galacia | NBC Finance

sales force (CRM) reported better-than-expected earnings for the first quarter of fiscal 2023 on Tuesday.

Revenue was $7.41 billion in constant currency, up 26% year over year and beating estimates of $7.38 billion, according to FactSet. A constant currency helps smooth out foreign currency fluctuations to provide a clearer financial picture. Non-GAAP EPS of $0.98, including a 1-cent mark-to-market gain on strategic investments, beat estimates of $0.94.