Chair and Co-Chief Executive Officer at Salesforce
Okay. Well, thank you so much, Mike, and thank you, everyone, for being on the call. I just want to come back to how great it was to see so many of you at Dreamforce in September. It was really a wonderful experience for me personally. It was our most successful, but I really think it was our most important Dreamforce ever because we were able to come together for what we called our great reunion. And being with you all of you, especially at our IR Day, that was a joy for me.
Now, let's get on to the quarter results. We delivered solid revenue growth and profitability in an increasingly challenging environment. You've seen how we're driving customer success, the strength of our organic innovation and this incredible Trailblazers community and how it manifested at the Dreamforce. And everywhere we turn, we saw customers learning how to connect with their customers in entirely new ways and the depth of our Customer 360 platform. We're also thrilled to introduce Genie, which is our customer data cloud, and it's one of the most transformational technologies we have ever delivered. And when you hear some of the metrics already coming out of customer adoption with Genie, I think that you'll be incredibly impressed, and I can't wait for Bret to talk about that. The best part of Dreamforce is being together. That was what it was all about for me, and I'm sure it was for you as well, and the 40,000 folks that all came to San Francisco to have this incredible experience and all the additional folks that joined us online.
Now, let's get to our results. Revenue in the quarter, well, it was $7.84 billion. That's up 14% year-over-year. I think that's a record for us. And also, it was 19% in constant currency. And we're going to talk about that foreign exchange situation in just a second. We closed some amazing deals in the quarter with great companies like Bank of America, RBC Wealth Management and Dell and other great stories, and I'm also going to get that into a moment as well. And even with purchase decisions receiving greater scrutiny, we continue to gain market share and close marquee transactions. IDC recently ranked Salesforce as the #1 in CRM. And now we've done that for nine years in a row. And I'm proud that we've delivered revenue growth in this environment, but especially proud of the team for our continued focus on delivering record operating margins. And here, you can see now, up 22.7% non-GAAP operating margin we delivered for the quarter. And I think when I look back at various financial crisis, as we think back even, I think, to '08, '09, I think it was like somewhere down to 10%. So we've come a long way in a short period of time. So this quarter has been further proof of our commitment to profitable growth, continuing our operating margin growth, continued focus on our revenue growth, continued focus on our market share growth. And a great evidence of that is our remaining performance obligation. Our RPO is now an incredible $40 billion.
Now, as I've said in the last few quarters, the dollar had a strong quarter, maybe even a stronger quarter than we had. I think that when we first said that, in the second quarter, folks didn't really understand what we were talking about, or maybe it was in the first quarter we said that. I remember it was a trip to Japan when I called Amy and I was asking her what the expectations were for revenue. But when I told her what my guidance was for what and how I was looking at revenue, including foreign exchange, I don't think either one of us could believe what was really happening, and now we've really seen that start to play out. We continue to see the impact of foreign currency fluctuations. And, of course, that is our biggest surprise of the year. In the quarter, we saw $300 million year-over-year headwinds to revenue, and we've expected a total of $900 million for the full year. Now, that is something we just could not have expected a year ago, and that is when we initiated our revenue guidance.
At Dreamforce and in my travels around the world, our customers have been asking how to best navigate this economic situation with the high level of market volatility and uncertainty. A lot of CEOs have never been through these types of crisis before. They haven't seen these kind of variations in the market or in foreign exchange or even in market demand. Well, we've got a lot to say about that because this is not our first financial crisis. And I'm seeing a lot of buying behavior that really reflects a lot of what we've seen during other crisis, whether it's '08, '09 or even '01. And, obviously, the current economic situation is nowhere near as severe as what happened beginning in '08, but there are some patterns that we've seen repeat themselves. In early '08, we saw customers who are reluctant to expand distribution capacity, they weren't adding service people, they froze their hiring, they initiated headcount reductions. We saw those occur in that year. We saw that in '01 [Phonetic] as well. I think that maybe when things start to get a little tough or when the stock market shifts, that's when CEOs say, hold on, should we be expanding distribution capacity right now? Should we be expanding service capacity? What do we stop -- let's stop our advertising, let's stop our marketing spend, things that they can immediately take actions on. Well, you couple that with foreign exchange headwinds have become an issue and everyone who's shifting their focus to finding efficiencies, reducing their costs, increasing productivity, and again, we're feeling all of this once again. And that led us to the shift of the Company. It took us a lot to how we operate and where we are investing our dollars. We've actually developed our own playbook. We really wrote it all down. We talked about what was happening. We knew what happen again. And we had to desk off some of those plans and numbers from 12, 13 years ago from 22 years ago. And we've turned that playbook into gaining market share and focusing on operational discipline and operational excellence, especially in the face of economic headwinds.
And as the economy has started to recover, whether it's in 2010 or even in 2002, we were able to radically accelerate our growth. I have to tell you, when we went back as a team and we looked at the numbers, even I was really shocked to see kind of how things change some of the decisions that we made, but then how we all of a sudden were able to navigate so well, and use that as an opportunity to adjust the Company in all -- in a number of really critical and strategic areas. Now, I've always believed since that point, especially, that an economic crisis creates these opportunities, and we're squarely in that moment, and we've acted.
Starting in July of this year, the buying environment became more measured and foreign exchange headwinds were becoming increasingly complex. We told you then we didn't believe this challenging macro environment was going to be a short-term problem. And you know we're not economists. You know that we don't know exactly what is happening or when the recovery will happen, etc., but we do see a lot, and I think we understand a lot about what's going on because we have such strong global data. And we're not assuming that this economy gets any better anytime soon. We're just reporting what we see with our customers, the kind of changes they make when they start to feel these headwinds. We're following our playbook to make sure we're well positioned to gain market share, to increase our profitability, to focus on our operating margin, to focus on the growth of our revenue and be able to continue to invest, especially when the economy recovers.
Now, for this fiscal year, we're maintaining our revenue guidance of $30.9 billion to $31 billion, up 17% year-over-year or 20% in constant currency. And you saw that that also included that incremental foreign exchange headwind, and it's even an expected incremental $100 million of foreign exchange headwind just since last quarter. We're raising our fiscal year '23 non-GAAP operating margin guidance from 20.4% to 20.7%, an expansion of 200 basis points year-over-year, and I expect a lot more, especially with this increased focus we have on expanding our operating margin.
Salesforce' mission-critical to nearly every Fortune 1000 company because every company is becoming a customer company. And everyone knows that this is the time during a crisis like this that you need to focus on your customers. If you need to do one thing, if there's one critical thing that every company has to do to get through this is to make sure they maintain their relationships with their customers. It's a critical part of navigating through this time and you're not going to be successful if you all stay connected with your customers. We're signing transformational deals with major brands as every industry continues to digitally transform and that continues to be perhaps the most important initiative of every company, regardless of the economic situation.
When you look at this by industry, it's slightly different for each industry. In telecom, we're working with almost every major players. They transform how they connect with their customers. All telcos must deliver faster, better service to customers, keeping their costs down, focusing on their NPS score, becoming more competitive. We all know that. It's a highly competitive industry. We all understand the dynamics well. It's one of the reasons why we've done so well in all these global telecom companies. But I really want to talk to you about a great example, and this deal that we signed with T-Mobile in the quarter. Now, we've done a lot of work with Mike and with T-Mobile over the years, and that's been very exciting to see how they built their company and especially how they've executed the merger. And now, they have an amazing [Phonetic] transformational opportunity on how they work with businesses, and we're working with them to develop a vision for the next-generation user experience for T-Mobile for business. And our professional services team is leading that charge.
Financial Services, well, that's another industry that's been going through one of the most incredible digital transformations, but it's an incredible moment for them, actually. And [Technical Issues] it's why we're working with all the major financial service companies to drive stronger client relationships and to unite their teams to be more effective, especially in this environment. It's a golden time for financial services in many ways. A great example is Bank of America, who I think has been a customer for more than 20 years, and we've been with them through many different financial crisis. But in a short amount of time, they've increased productivity and reduced their technical debt. They're saving time and money, they're connecting with their customers in new base. It's a tremendous relationship with BofA to become their CRM standard. We're delighted to have such great success with them over many decades and to expand this relationship to the business bank, the corporate bank and the investment bank, it's really an expansion. And I just want to thank Brian for his tremendous loyalty, but also his partnership over so many decades, and it's just a great organization to work with every single day.
Well, before I go on, I, first of all, want to give you an invitation. I hope that you'll all plan to join us in New York City next week, where we're going to host our Salesforce World Tour on December 8. Join us in person or online, where we're going to announce some new innovations. And you're going to hear from our incredible customers and so much more.
Now, before I end, I have to say something, and it's something that I did not want to say ever, and I'm extremely sad to tell you that Bret Taylor is going to be leaving the Company. Bret and I are like brothers. I love him very deeply. He's an incredible person. And one of the great joys of my Company has been having him here. And I'll tell you, for me, this has been a feeling of tremendous loss. I'm experiencing that right now. You can probably hear it in my voice. It makes me think of all the great people that we have actually lost in the Company over the time as well, so many great leaders of our industry, but especially now with Bret. This is just really hard for me, and I'm extremely sad to see him go. I know he has created two great companies. I know he wants to go create a third great company. And you can't keep a wild tiger in a cage. And we got to let them be free and let him go, and I understand, but I don't like it. And Bret, you know that you're always going to be our brother. You know that you -- we love you very deeply, that you have a home here. We're going to try to get you back somehow. So, don't think that you're going to somehow get out of this alive, because you're not. And you're always going to be part of our Ohana. And we are really upset about this, and it's going to be a difficult moment for us. But I know that you're going to be with us through the end of the year, and I know you're going to continue to work with us even after this point. But Bret, we love you, and we're so sorry to see you leave the Company at the end of this year.