cloud news
Wade Tyler Millward
Salesforce co-CEO Marc Benioff said on this week’s earnings call:
Marc Benioff, co-CEO of Salesforce, detailed a more “measured” customer buying landscape on this week’s quarterly earnings call, boosted interest in Marquee’s Dreamforce conference, hinted at future acquisitions, and He defended the “resilience and durability” of his company’s business. model.
The San Francisco-based front-office software vendor expects to continue to benefit from the continued influx of enterprise customers adopting digital transformation tools, Benioff said. This trend has also benefited Salesforce and other software his vendor partners.
“We’ve seen our quarterly results,” Benioff said on Wednesday’s earnings call. I’m showing my sexuality again.”
[RELATED: SALESFORCE CUTS GUIDANCE, REPORTS ‘MEASURED’ CUSTOMER BUYING AMID ECONOMIC UNCERTAINTY]
What did Marc Benioff say on the Salesforce earnings call?
On the plus side, in the second quarter of Salesforce’s fiscal year (the quarter that ended June 30), Slack’s total revenue was $381 million, better than expected. The Professional Services and Other segment beat expectations at $577 million. Salesforce also saw his 100,000+ customer count on Slack increase by more than 40% for his fifth consecutive quarter.
But Tableau has seen slowing growth, with Salesforce executives cutting guidance on expected revenue for the fiscal year and saying customers are in a “more cautious buying environment.” Longer sales cycles, more layers for customers to approve deals, and compressed deals. Weaknesses of SMEs.
His words and Salesforce’s performance appear to maintain the goodwill of some investment banks.
“Front office software will see some demand hits clearly marginal given macro and CRM (Salesforce) guidance,” investment bank Wedbush said in a note. rice field. “That said, given the macros, this is a gradual reset of expectations and could prove to be a conservative outlook from CRM Rubik. I see it as an approach.”
According to a Morgan Stanley report, a survey conducted by an investment bank in the second quarter found that “digital transformation initiatives remain high on CIOs’ priority list (4th overall), with a focus primarily on the front office. , which is expected to be one of them, which is good news for Salesforce and its partners.
According to the Morgan Stanley report, “This lends credence to Salesforce’s claim that demand is slow to convert, rather than dead.”
Similarly, Gireesh Sonnad, CEO of New York-based Salesforce partner Silverline, said in a recent interview with CRN that new practices in the media and entertainment industry and growth in Canada are contributing to more than 20% year-over-year growth in sales. said to have contributed to the growth of silver line.
Sonnad says: “We have surpassed last year’s growth, which is exciting.
Here are the details of what Benioff had to say on the phone.
Wade Tyler Millward
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