If you’re a regular reader of the tech and business press, it’s been painting a pretty gloomy economic picture recently, with a tendency to accentuate the negative. There’s inflation and layoffs and supply chain problems.

None of that seems to be affecting Salesforce though, which just had itself a fine quarter along with a bright revenue and profit forecast.

Earlier this week, the company reported revenue was up for the quarter a healthy 24%, to $7.4 billion. Analysts had expected $7.38 billion. Meanwhile, the company expects revenue growth of 21% in its current quarter, and 20% for its current business year, its fiscal 2023.

Salesforce chairman and CEO Marc Benioff was almost gloating at the call with analysts earlier this week. “And I can tell you that our business — you can see this in the Q1 numbers, can’t you — is incredibly healthy…We’re carefully watching the economic data. I know all of you are doing that as well,” he said.

Source: Tech Crunch

Date: December 6th, 2022

Link: https://techcrunch.com/2022/06/03/you-may-be-having-a-problem-with-the-economy-but-salesforce-sure-isnt/amp/

Discussion

1. Salesforce is a SaaS – Software as a Service platform that enables business to connect easily with their customers. Make sure students understand SaaS
2. Why is Salesforce doing so well when businesses are under pressure (there is a greater need for customer relationships that can bring in revenue than ever before)