Its revenues grew 49% to $216 million for the second quarter that ended in July. The global lockdown conditions have helped drive its growth in the recent quarters. Slack’s products allow users to collaborate with each other. By the beginning of 2020, Slack’s valuation had slipped by nearly 40%. But continued losses had hurt its valuation. Slack, founded in 2010, had listed last year at a valuation of $19.5 billion. The acquisition ends Slack’s foray into the public market. The biggest news though was concerning its plans to acquire San Francisco-based Slack for a whopping $27.7 billion. Commerce Cloud Payments is a payment solution powered by Stripe and Experience Cloud helps accelerate the creation of CRM-powered digital experiences. Customer 360 Audiences is a customer data platform built for marketers to unify segments and activate all of the customer data. The service comes with features such as Customer 360 Audiences, Commerce Cloud Payments, and Experience Cloud. It released its new product called Digital 360 that combines new innovations from the Salesforce Customer 360 platform for customer engagement. Salesforce recently announced several product enhancements. The market was looking for revenues of $20.77 billion with an EPS of $3.73.
Salesforce expects to end the current fiscal with revenues of $21.1-$21.11 billion and an EPS of $4.62-$4.63.
Current remaining performance obligation grew 20% to $15.3 billion.įor the fourth quarter, Salesforce forecast revenues of $5.665-$5.675 billion and an EPS of $0.73-$0.74 versus analyst estimates of revenue of $5.51 billion and an EPS of $0.85. Adjusted earnings of $1.15 per share was also better than the market’s forecast of $0.75 per share.īy segment, Subscription and support revenues grew 20% to $5.09 billion, Professional services and other revenues grew 22% to $330 million.Īmong key metrics, remaining performance obligation grew 17% over the year to $30.3 billion. Salesforce’s revenues for the third quarter grew 20% to $5.42 billion, above analyst estimates of $5.25 billion. But the market has been abuzz with the news of its $27.7 billion acquisition of Slack.
Please subscribe to my Cloud Stock Analysis series and never miss an article.įor the recently reported quarter, Salesforce (NYSE: CRM) crossed a milestone of $20 billion in annual revenues. I’m publishing this series to discuss a topic that I follow closely - cloud stocks, trends, strategy, acquisitions, and more.
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