CRM leader Salesforce reports 23% jump in revenue to $6.34 bn in Q2

CRM leader Salesforce reported results for its second quarter of fiscal 2022 ended July 31, 2021.
Salesforce business software for healthcareSalesforce said its second quarter revenue increased 23 percent to $6.34 billion in Q2.

Salesforce.com on Wednesday signaled the shift to hybrid work would keep demand for its cloud-based software strong in the third quarter, after trumping market expectations for earnings in the May-July period.

“With companies and governments continuing to accelerate their digital transformations, we delivered our fifth phenomenal quarter in a row,” said Marc Benioff, Chair & CEO of Salesforce.

The business software maker’s revenue has gone from strength to strength over the past year, with the rise of automation and artificial intelligence likely to keep that momentum going as Covid-19 vaccine rollouts gather force and offices reopen.

Subscription and support revenues of Salesforce increased 22 percent to $5.91 billion. Professional services and other revenues rose 37 percent to $0.43 billion.

San Francisco, California-based Salesforce is expecting third quarter revenue of $6.78 Billion to $6.79 Billion, up approximately 25 percent.

A slew of acquisitions, including workplace messaging app Slack, has helped Salesforce fend off competition from legacy players like Oracle, Microsoft and SAP.

“Our Customer 360 platform is fueled by a herd of unicorns perfectly designed for this all-digital world. Sales, Service, Marketing & Commerce, Platform, Tableau, MuleSoft and now Slack are all billion dollar-plus products delivering customer success like no other company,” Marc Benioff said.