$10bil Milestone on the Horizon for Salesforce

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I’m sure that I’m not alone in suddenly realising: “It’s December next week?!”, therefore a good time to look at what’s in store for us in 2017. Trump will begin his presidency, Moon Express will make their first lunar tour, arrival of robotic chefs and the first head transplant, to name a select few. But, Salesforce, too, are anticipating celebrating their own epic milestone: being the fastest software company to reach $10 bil in annual revenues.

The optimistic outlook for the next year came as a result of the Q3 earnings, announced on November 17th, when Benioff said:

“I’m delighted to announce that we expect to deliver our first $10bn year during our fiscal year 2018, which puts us well on the path to reach $20bn faster than any other enterprise software company.”  

Q3 was reported to be a period of outstanding performance, which resulted in a 25% revenue growth (YOY). So far this year, earnings have equalled $2.14bil; and we’re only just beginning ‘closing quarter’.

Looks like the graft and risks have paid off for Salesforce. Perhaps the growth was fuelled with the announcement of the world’s first AI driven CRM? Coined “the world’s easiest AI by Benioff. Or existing customers expanding their Salesforce investment to bring more departments onto the platform has contributed? Plus, we could factor in the tactical license cost increase in the Spring. Above all, it’s the forward-thinking innovation and social responsibility the firm instills that makes Salesforce the default choice for both new platform venturers and long-term customers.

The key takeaway is as someone who has invested in Salesforce financially as a customer, or deeper as an industry professional, you can be assured that you have placed your bets competently – in a thriving industry that is growing from strength to strength with no intention of stagnating.

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