Salesforce revenue surges 25 percent

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Salesforce revenue surges 25 percent

Salesforce has posted more impressive financial results revealing the SaaS company's revenues rocketed by 25 percent in the last quarter, reaching US$2.68 billion. These latest figures take the company's total revenues to date up to US$10 billion and it got to that figure faster than any other software company.

It has doubled its quarterly revenues in just two years in fact, with its Q3 2015 figures topping US$1.38 billion.

"With our outstanding first quarter results, we are thrilled to be raising our fiscal 2018 revenue guidance by US$100 million and raising our GAAP and non-GAAP earnings per share expectations for the year," said Marc Benioff, chairman and CEO, Salesforce.

"Salesforce has once again been named the CRM market leader, and we continue to grow our share in CRM - the fastest growing enterprise software market."

Benioff said it doesn't expect the business to slow down on growth over the next five years either. The company has revised its revenue goals substantially, taking aim at US$20 billion by 2022.

“In fact as the fastest growing enterprise software company ever to reach US$10 billion, we are now targeting to grow the company organically to more than US$20 billion by fiscal year 2022 and we plan to do that to be the fastest enterprise software company ever to get to US$20 billion,” Benioff added.

To help it achieve such goals, the company also announced a number of executive moves, including the promotion of Quip's Bret Taylor to president and chief product officer. Alex Dayon, the company's ex-CPO will become president and chief strategy officer.

“Bret is going to drive our product vision, design, development and go-to-market strategy. Alex is going to lead strategic initiatives working more closely with our customers on product direction and transformation," Benioff said.

This article originally appeared at itpro.co.uk

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