Followers | 679 |
Posts | 140715 |
Boards Moderated | 37 |
Alias Born | 03/10/2004 |
Friday, November 30, 2018 4:05:36 PM
By: The Motley Fool | November 29, 2018
Here are three must-see quotes from Salesforce's third-quarter earnings call.
Salesforce Talks Einstein, Big Deals, and More
Here are three must-see quotes from Salesforce's third-quarter earnings call.
Daniel Sparks (TMFDanielSparks)
Nov 29, 2018 at 4:04PM
Salesforce (NYSE:CRM) is at it again, beating analyst estimates and raising its outlook for full-year revenue. Even more, the software-as-a-service customer relationship management company is on pace to grow revenue at a faster rate in fiscal 2019 than it did in fiscal 2018. The company's solid third-quarter earnings release paired with the stock's sharp jump this week has the company back in the Street's limelight.
But many investors may want more than an update on the company's latest top- and bottom-line results and revenue outlook. To get a more holistic picture of how the company is doing, investors should turn to Salesforce's third-quarter earnings call, where management provided useful background on its business and shared additional key metrics.
Here are three key quotes from the earnings call.
Einstein is making 4 billion predictions a day
One way Salesforce is making its products more useful to its clients is through its artificially intelligent assistant Einstein. Both the assistant's improving relevance and clients' increasing use of this technology are clear from the sharp growth in predictions Einstein is making every day.
Salesforce Co-CEO Marc Benioff explained:
I told you Einstein was delivering 3 billion predictions and insights every day in the last quarter. Now, a few months later, we are doing 4 billion Einstein predictions every single day, exceeding our expectations. ... All of our products having Einstein built in that Einstein is at the heart at the customer's success platform, making it more powerful and more capable every day.
An update on Salesforce's acquisition of MuleSoft
Salesforce closed its biggest acquisition ever earlier this year, acquiring information technology company MuleSoft in a $6.5 billion deal.
Fortunately for investors, the acquisition is off to a running start. Salesforce is already seeing a "great" return on its investment for its MuleSoft acquisition, said Salesforce Co-CEO Keith Block.
Block continued:
And speaking of MuleSoft, integration has become a strategic imperative for all of our customers. It has captured the attention of c-level executives in virtually every conversation I have. ... [I] Just love MuleSoft because MuleSoft is able to unlock data from legacy systems and accelerate their digital transformations.
There is still big upside for big deals
While many of the biggest companies in the world are already using Salesforce's products, there's still more meaningful upside for Salesforce to land more large deals. To this end, Co-CEO Keith Block said that he's met with more than 100 CEOs and world leaders since the end of September -- an initiative that has helped drive "more strategic relationships than ever."
Block added:
In fact, in Q3 the number of deals generating more than $1 million was up 46% over last year. And the number of $20 million plus relationships we have continues to grow significantly.
As both Salesforce's third-quarter results and its earnings call show, investors have plenty of reason to expect more strong growth from this tech giant. In addition, strategic acquisitions and the rapid deployment of AI across its business should only fortify Salesforce's leadership position in customer relationship management.
Read More »»»
• DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Recent CRM News
- Apple to Invest $250 Million in Singapore Expansion, Oracle Commits $8 Billion to Japan Infrastructure, and More News • IH Market News • 04/18/2024 11:11:52 AM
- Samsung Surpasses Apple in Q1 Smartphone Market; Salesforce in Talks to Acquire Informatica, and More News • IH Market News • 04/15/2024 11:06:48 AM
- Walgreens Slashes Annual Profit Forecast; MillerKnoll Nosedives 17% on Bleak 4Q Outlook, and Latest News • IH Market News • 03/28/2024 01:48:04 PM
- Analysts’ Recommendations for March 27th: FedEx, Visa, Uber, Adobe… • IH Market News • 03/27/2024 12:13:10 PM
- Super Micro Computer and Seagate Shares Surge on Analyst Optimism in Pre-Market Trading, and Latest News • IH Market News • 03/26/2024 11:20:49 AM
- Salesforce Grants Equity Awards to Spiff Employees Under Its Inducement Equity Incentive Plan • Business Wire • 03/22/2024 08:02:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 08:26:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 10:09:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 10:17:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 09:37:05 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 03/06/2024 09:32:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 09:29:37 PM
- Turtle Bay Resort Redefines Personalized Hospitality with Salesforce’s Einstein 1 Platform • Business Wire • 03/06/2024 06:00:00 PM
- Salesforce Launches Einstein 1 Studio: Low-Code AI Tools for Customizing Einstein Copilot and Embedding AI into Any CRM App • Business Wire • 03/06/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:56:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:50:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 12:39:16 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/04/2024 09:05:18 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 09:28:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/29/2024 11:24:59 PM
- Snowflake Stock Plummets 20.3% After CEO Transition; C3.ai, Okta, and Duolingo Surge Post-Strong Quarterly Reports, and More • IH Market News • 02/29/2024 11:09:45 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/28/2024 09:15:49 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/28/2024 09:08:06 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/28/2024 09:04:22 PM
- Salesforce Announces Strong Fourth Quarter Fiscal 2024 Results • Business Wire • 02/28/2024 09:01:00 PM
VPR Brands LP Reports Record Annual Financial Performance for Fiscal Year 2023 • VPRB • Apr 19, 2024 11:24 AM
Coinllectibles' Subsidiary, Grand Town Development Limited, Acquires Rare Song Dynasty Ceramics Worth Over USD28million • COSG • Apr 18, 2024 8:03 AM
ILUS Provides Form 10-K Filing Update • ILUS • Apr 17, 2024 9:54 AM
Glucotrack Announces Expansion of Its Continuous Glucose Monitoring Technology to Epidural Glucose Monitoring • GCTK • Apr 17, 2024 8:00 AM
Maybacks Global Entertainment To Fire Up 24 New Stations in Louisiana • AHRO • Apr 16, 2024 1:30 PM
Cannabix Technologies Begins Certification of Contactless Alcohol Breathalyzer, Re-Brands product series to Breath Logix • BLOZF • Apr 16, 2024 8:52 AM