Salesforce Earnings Live Blog: Q1 Conference Call
salesforce.com, inc. (NYSE: CRM) reports earnings this afternoon, and is expected to hold a conference call at 5:00pm ET to cover its Q1 2016 results. Below is a live blog of the event.
06:00:31pm: The call has ended.
05:58:50pm: Block: "Customers want to be more engaged," and that's what the cloud is about.
05:57:41pm: Block: "I think the numbers speak for themselves. this is a terrific product. It is a flagship product. Arguably, you could say it's the most loved sales app in the world."
05:55:20pm: Benioff reiterated that he couldn't be more excited about the Marketing Cloud.
05:51:33pm: Benioff said other analytics products are mostly for analysts, while the Salesforce Analytics Cloud is more useful for everyone else. He reiterated it's the only one on the Apple Watch.
05:45:09pm: Block on European customer adoption trends: "International expansion is a big part of our strategy. We continue to invest."
05:42:45pm: Many firms are trying to transform into service-based companies, and they're relying on Salesforce to make the transition.
05:37:48pm: Benioff hopes that in some small ways it has inspired the industry to get off its traditional stinginess and do something for other people.
05:37:21pm: Benioff said Salesforce is a software company working hard to make the world a better place.
05:36:12pm: Benioff: "I'm super motivated every day to get up and run a company that's doing well by doing good."
05:35:37pm: Benioff said Salesforce has its eye on the prize, which is the $10 billion run rate.
05:34:26pm: Benioff: "Salesforce has far exceeded our expectations over the last 16 years. People are always underestimating what they can do in a year and overestimating what they can do in a decade in our business."
05:30:24pm: Benioff said the company has had significant technological breakthroughs.
05:29:11pm: Benioff said he has never been more excited for a product. He hasn't spoken to a customer this quarter that wasn't excited about the Analytics Cloud. "There's never been an analytics product built from the ground up" like this one, he said.
05:27:19pm: Salesforce reiterated that it is very happy with the starting results for the fiscal year.
05:25:42pm: Salesforce is currently up more than five percent in after hours trading, thanks to the firm's surprise earnings results:
05:19:34pm: Block said Salesforce is seeing expansion with existing customers.
05:17:40pm: Keith Block, vice chairman and president: "We had a world-class report. We are firing on all cylinders. This is a great way to start our fiscal year."
05:14:19pm: Salesforce was the first to offer an analytics cloud for Apple Watch.
05:12:01pm: Benioff: "You can see the tremendous amount of growth we've had across our six clouds." He said it shows in the market share Salesforce continues to take away from itscompetitors.
05:11:23pm: Benioff: "Our European business is just awesome." He said every CEO he has met has understood the impact of Salesforce.
05:09:12pm: Raised guidance for top and bottom line. High-end at $6.55 billion.
05:07:25pm: Salesforce surpassed the $6 billion revenue run rate, is on track to achieving $7 billion. It's something the company is very focused on.
05:04:12pm: The call has begun.
04:59:40pm: The call is about to begin.
04:52:01pm: However, some students did not know who the executive was before he spoke.
04:49:21pm: Salesforce CEO Marc Benioff recently addressed the UC Berkeley Class of 2015:
— Salesforce (@salesforce) May 20, 2015
04:37:41pm: According to the official release, "Based on CRM software spending total software revenue in 2014, Salesforce achieved greater total revenue, revenue growth and market share growth than any other top 10 CRM vendor."
04:35:28pm: Gartner named Salesforce the number-one CRM software provider for the third consecutive year.
04:06:17pm: Salesforce.com Sees Q2 Sales $1.59B-$1.6B vs $1.59B Est.; Raises FY16 Sales Guidance to $6.52B-$6.55B vs $6.51B Est.
04:05:05pm: Salesforce.com Reports Q1 EPS $0.16 vs $0.14 Est., Sales $1.51B vs $1.5B Est.
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