The fiscal year 2019 had been a successful one for Salesforce. The tech giant saw a 26% increase in their yearly revenues, ending 2019 with $13.28 billion in total generated earnings.
Salesforce Co-CEO Marc Benioff was interviewed by Jim Cramer last March 4, 2019, for CNBC’s Mad Money. He told Cramer his thoughts on the recent financial success of Salesforce and the future outlook he has for the entire company.
Expectations Were Met
Benioff shared that the financial outcomes of fiscal year 2019 met and even exceeded his expectations. He also told Jim Cramer of Salesforce’s plans to reach revenues of $26 to $28 billion in four years.
The positive statements were made amid the dip in Salesforce stocks at the time of the interview. However, the company is poised for rapid growth and investors need not worry. Salesforce’s current stocks registered a 15% increase this year and a 30% increase from the previous year.
Benioff remains confident that Salesforce will hit its target $16 billion revenue forecast for this year. This is due to the company’s continuous product developments, which include the recent launch of the new Consumer Goods Cloud and many more.
Partnerships with large companies such as biopharmaceutical company Amgen and British financial institution Barclays blaze Salesforce’s rapid path to even higher success.
Transforming the Way Enterprises Do Business
Business looks bright ahead as Benioff anticipates an outpouring of opportunities for Salesforce. The company’s chairman and co-CEO sees Salesforce continue to transform business practices through the use of major computing trends which include:
- Extensive customer focus
- Cloud technology
- Large-scale digital transformation
Benioff stated that “Every B2B company and every B2C company is becoming a B2B2C company”. This implies that enterprises working in both business-to-business and business-to-customers industries can merge together to create meaningful customer experience journeys for their end-clients. Platforms created by Salesforce help make all of this happen.
More to Come for Salesforce
To conclude, Salesforce’s co-CEO Marc Benioff is extremely happy with the excellent performance Salesforce has shown financially, digitally, and philanthropically. Excitement looms over him as he predicts several opportunities and partnerships for the tech giant in the coming years.