Friday, June 21, 2024

Salesforce Exceeds Analysts’ Estimates After Adding Software Features

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Bloomberg: If Salesforce.com’s quarterly results are indicative of a wider trend, it appears that more enterprises are embracing software as a service (SaaS). Salesforce reported fourth quarter sales of $631.9 million, beating analysts’ predictions of $624.1 million. Quarterly profits came in at 43 cents a share.

During the quarter, Salesforce appears to have added a number of new customers, as billings rose 57 percent compared to the previous year. Analysts credit new product capabilities, including social media and mobility features, for attracting more customers to the cloud-based CRM.

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