Salesforce, Inc. (NYSE:CRM) shares closed nearly 10% higher on Wednesday following the company’s reported Q1 results, which included better-than-feared commentary on Europe and the macro plus good cost management that led to a higher 2023 operating margin target.

Q1 EPS came in at $0.98, beating the Street estimate of $0.94. Revenue was $7.41 billion, compared to the Street estimate of $7.38 billion.

The company expects Q2/2023 revenue to range from $7.69 billion to $7.7 billion, compared to the Street estimate of $7.77 billion. Full 2023-year revenue is expected to range from $31.7 billion to $31.8 billion, compared to the Street estimate of $32.06 billion.