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Tag: Amy Weaver

  • Salesforce Reports “Phenomenal Quarter”

    Salesforce Reports “Phenomenal Quarter”

    Salesforce has reported its fourth-quarter results, beating analysts’ expectations on strong services.

    Salesforce has been at the forefront of the workplace transformation, purchasing Slack and going all-in on remote and hybrid work. The company is also working to help companies transition to the cloud, forming partnerships, and rolling out new tools to help companies and their employees.

    In its fourth quarter, the company reported $7.33 billion, up 26% year-over-year. Subscription and support revenue came in at $6.83 billion, up 25%, while professional services and other revenue increased 46%, coming in at $0.50 billion.

    For fiscal year 2022, revenue was up 25%, coming in at $26.49 billion. Subscriptions and support accounted for $24.66 billion, an increase of 23%, while professional services and other revenue came in at $1.84 billion, a 44% increase.

    “We had another phenomenal quarter and full-year of financial results,” said Marc Benioff, Chair and Co-CEO of Salesforce. “As we continue to see tremendous demand from customers, we’re raising our FY23 revenue guidance to $32.1 billion at the high-end of range, with non-GAAP operating margin of 20%, and operating cash flow growth of 22% year-over-year.”

    “With our customers’ success driving our financial success, we’re generating disciplined, profitable growth at scale quarter after quarter,” said Bret Taylor, Co-CEO of Salesforce. “Our Customer 360 platform has never been more strategic or relevant in driving the growth and resilience of our customers around the world.”

    Executives expressed confidence the company’s momentum will continue into 2023.

    “Fiscal 2022 was a remarkable year for Salesforce. I am particularly pleased with our focus on discipline and profitable growth which drove record levels of revenue, margin, and cash flow,” said Amy Weaver, President and CFO. “I’m confident in the momentum of the business as we build an even stronger company in FY23 and beyond.”

  • Salesforce Posts Record First Quarter

    Salesforce Posts Record First Quarter

    Salesforce has delivered its first quarter results, posting a record quarter on strong Customer 360 results.

    Salesforce posted $5.96 billion in revenue, a 23% increase year-over-year. Subscription and support revenue accounted for $5.54 billion of that, an increase of 21%, with the professional services and other revenue sources making up $0.43 billion, an increase of 47%.

    “We had the best first quarter in our company’s history,” said Marc Benioff, Chair & CEO, Salesforce. “We believe our Customer 360 platform is proving to be the most relevant technology for companies accelerating out of the pandemic. With incredible momentum throughout our core business, we’re raising our revenue guidance for this fiscal year by $250 million to approximately $26 billion and non-GAAP operating margin to 18 percent. We’re on our path to reach $50 billion in revenue in FY26.”

    “Our performance in the first quarter was strong across all financial metrics,” said Amy Weaver, President and Chief Financial Officer, Salesforce. “We saw record levels of new business and strength across all products, regions, and customer sizes. Our impressive start to this year helps fuel our momentum for the rest of the year as we keep pace toward our goal of $50 billion in revenue in FY26.”

    In addition to beating earnings estimates, Salesforce issued stronger guidance than analysts were expecting, predicting $0.91 to $0.92 per share for the second quarter, on $6.22 billion to $6.23 billion. In contrast, according to CNBC, analysts had been expecting $0.86 on $6.15 billion.

  • Salesforce Will Allow Employees to Work From Home the Rest of the Year

    Salesforce Will Allow Employees to Work From Home the Rest of the Year

    Salesforce has become the latest company to extend its work from home (WFH) policy, allowing employees to do so through the rest of the year.

    Virtually every major tech company has allowed, or even mandated, its employees to WFH during the coronavirus pandemic. In some cases, the result has been enlightening for many companies, showing how productive employees can be working from home. As a result, some companies have decided to allow employees to WFH forever, with Twitter being the most high-profile example.

    While not allowing employees to work from home forever, Salesforce has decided to allow employees to WFH for the rest of the year.

    “For us, the timing of when we bring employees back into our offices will be unique to each office—we’ll make those decisions on a city-by-city basis, in a way that’s consistent with local government guidelines and in line with the advice of our medical experts,” writes Amy Weaver, President & Chief Legal Officer.

    “Regardless of whether their local office has reopened, Salesforce employees will have the option of continuing to work from home until the end of the year.”

    While stopping short of Twitter, Salesforce’s decision is likely welcome news to its employees.