Market Overview

Salesforce CEO Talks $20B Revenue Target After Record Year

Share:
Salesforce CEO Talks $20B Revenue Target After Record Year
Related CRM
Insider Buys Of The Week: Conagra, Salesforce, Thor
Despite Transport Selloff, Stifel Reiterates 'Buy' On C.H. Robinson
Piper Jaffray's stocks to own in tech (Seeking Alpha)

Salesforce.com, inc. (NYSE: CRM) reported fourth-quarter and full-year results Wednesday that marked a historical milestone for the company, CEO Marc Benioff said in a CNBC interview. 

What Happened

Salesforce's total revenue for the full year rose 25 percent from one year ago to $10.48 billion. The company "blew through" the $10-billion mark at a pace that is not only faster than any other cloud company, but faster than any other software company in history, Benioff told CNBC's Jim Cramer in an interview.

Why It's Important

Salesforce's journey to become a company that generates $10 billion in annual revenue occurred at a faster rate than expected, the CEO said. There's no reason Benioff's 2022 guidance for hitting $20 billion in annual revenue can't be achieved sooner than expected, he said. 

To achieve the goal, Salesforce remains focused on the international market, where clients include major banks that use the financial services cloud. And signing more million-dollar contracts, as the company did in its fourth quarter, only helps its ability to nearly double annual revenue over the coming years. 

What's Next?

Salesforce's "winning success" strategy is based on cultivating a strong culture and communicating a sense of purpose to all stakeholders, Benioff said. 

"Finally, what's your culture?" Benioff said. "What are your values? What is it like to be in your company? What does it feel like to be in your office or at your events? And if you can put those three things together — culture, community and customers — I think you can have a winning success today."

Related Links:

Salesforce Q4 Earnings Preview

Jefferies Upgrades Salesforce.com On Strong Customer Demand

Photo courtesy of Salesforce. 

Posted-In: cloud CNBC Jim Cramer Mad Money Marc Benioff softwareMedia Interview Best of Benzinga

 

Related Articles (CRM)

View Comments and Join the Discussion!

With Expectations Of Faster Organic Growth, Cowen Upgrades Itron

34 Stocks Moving In Thursday's Mid-Day Session