CRM leader Salesforce’s revenue jumps 27% to $6.8 bn in third quarter

Salesforce said revenue rose 27 percent to $6.86 billion in the third quarter ended Oct. 31, boosted by strong demand for its cloud-based software.
Salesforce business software for healthcareSalesforce has generated third quarter sales of $4.638 billion (+23 percent) from Americas, $1.581 billion (+35 percent) from Europe and 644 million (+29 percent) from the Asia Pacific region.

Salesforce revealed its revenue forecast, saying that its fourth-quarter revenues will be between $7.22 billion and $7.25 billion.

The CRM leader has also raised FY22 revenue guidance to between $26.39 billion to $26.40 billion, up approximately 24 percent year-over-year.

“Salesforce is relevant and strategic than ever as every company accelerates their digital transformation journey,” Marc Benioff, Chair and CEO of Salesforce, said. “With the strength of our Customer 360 platform and Slack, we’re on track to reach $50 billion revenue in FY26.”

Salesforce, a bellwether in the Customer Relationship Management (CRM) sector, has seen a boost in demand due to the pandemic accelerating businesses’ transition to cloud-based platforms.

The company faces competition from competitors including Microsoft’s Azure, Amazon’s Amazon Web Services (AWS) and Alphabet’s Google Cloud.

Last month, Microsoft reported strong growth in its Azure segment, its flagship cloud-computing business. Google Cloud’s third-quarter revenue rose 45 percent to $4.99 billion.

Meanwhile, Salesforce.com has picked insider Bret Taylor to co-lead the company alongside top boss Marc Benioff.

Bret Taylor will also be the vice chair of Salesforce’s board, effective immediately.

On a post-earnings call, Taylor touted the performance of Slack, a workplace messaging app Salesforce bought in a $27.7 billion deal, but signaled the company was not keen on any M&A in the near term.

Related News

Latest News

Latest News