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Salesforce, Inc. 8-K Report, Financial Results (Mar 1, 2023)

Reports
Earnings & Results·Regulation FD·Exhibits & Filings
Filing Date
Filed March 1, 2023
Period End
March 1, 2023
Security
CRM
In the record · 2016–202610-K1110-Q328-K144

CRM filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 144 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Jul ’16Jul ’16
  2. Deal closed8-K · Aug ’19Aug ’19
  3. Leadership change8-K · Nov ’21Nov ’21
  4. Leadership change8-K · Sep ’26Sep ’26

01—Abstract

Summary

Summary of the 8-K filed March 1, 2023. Cited figures are marked; the original filing is the authoritative source.

Salesforce, Inc. (CRM) filed an 8-K on March 1, 2023, primarily to disclose its financial results for the fiscal quarter and year ended January 31, 2023.

While the specific financial figures are detailed in the press release attached as Exhibit 99.1, the filing also highlights the company's continued commitment to returning capital to shareholders through its Share Repurchase Program. Key to investors is the announcement of a significant increase in the authorized amount for stock repurchases, adding $10.0 billiona to the existing program.

As of January 31, 2023, $6.0 billionb was already available. This substantial buyback authorization signals management's confidence in the company's financial position and its stock's valuation, suggesting a strategy to enhance shareholder value.

02—Key points

Key Highlights

  1. Salesforce announced its financial results for the fiscal quarter and year ended January 31, 2023, via a press release (Exhibit 99.1).
  2. The company announced an increase of $10.0 billion in its authorized Share Repurchase Program.
  3. As of January 31, 2023, $6.0 billion remained available for repurchases under the existing program.
  4. The Share Repurchase Program, initiated in August 2022, does not have a fixed expiration date.
  5. Repurchases can be executed through various methods, including open market and privately negotiated transactions, and under Rule 10b5-1 plans.
  6. The timing, manner, and amount of future repurchases are at the company's discretion and depend on market conditions and legal requirements.

03—Questions

Frequently Asked Questions

  1. What are the key financial results reported in this 8-K?

    This 8-K filing serves as a notification of Salesforce's financial results for the fiscal quarter and year ended January 31, 2023. The specific details of these results are provided in the press release attached as Exhibit 99.1, which is incorporated by reference.

  2. How much has Salesforce increased its share repurchase authorization by?

    Salesforce announced an increase of $10.0 billion to its authorized Share Repurchase Program. This addition to the program comes on top of the $6.0 billion that was already available as of January 31, 2023.

  3. When does the Share Repurchase Program expire?

    The Share Repurchase Program does not have a fixed expiration date. It commenced in August 2022 and continues without a set end date, providing flexibility for the company to repurchase shares.

  4. How will Salesforce execute these share repurchases?

    Salesforce has the flexibility to repurchase shares through various methods. These can include open market transactions, privately negotiated transactions, accelerated share repurchases, and plans complying with Rule 10b5-1 of the Exchange Act. The specific methods and timing will be determined by the company based on market conditions and other factors.

04—Continue

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