Salesforce Disclosed Strong Second Quarter Fiscal 2022 Results

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Salesforce has declared its second-quarter fiscal 2022, which ended on July 31, 2021. As a result, its share rose 3% in extended trading.

Salesforce’s second-quarter earnings of 56 cents a share on revenue are $6.34 billion, which analysts expected to be $6.24 billion with non-GAAP earnings of 92 cents a share. Their revenue has increased by 23% year-over-year and 21% in constant currency. Salesforce’s MuleSoft and Tableau were its most prominent revenue lines.

Marc Benioff, Salesforce CEO, said that with companies and governments worldwide continuing to accelerate their digital transformations, they delivered their phenomenal fifth quarter in a row. Their firm has never seen better execution or more significant momentum. In addition, their Customer 360 platform is now fueled by a herd of unicorns perfectly designed for this all-digital world. Sales, Service, Marketing & Commerce, Platform, Tableau, MuleSoft and now Slack are all billion-dollar-plus products delivering customer success like no other company.

The Salesforce President and CFO, Amy Weaver, said they had another remarkable quarter of top and bottom-line performance, making this an impressive first half of this fiscal year. They exceeded their financial expectations in the quarter, achieving record levels of new business, and saw strong demand across their portfolio. And they are excited to build on Slack’s momentum with the power of their two companies now together.

Recently, Salesforce officially acquired Slack for $27.7 billion with a plan to incorporate the communication software of Slack into every phase of its cloud software offerings. Marc Benioff, the Salesforce CEO, called the deal “a match made in heaven.”

Goldman Sachs analyst, Kash Rangan, sees potential for investor sentiment to shift more positively after Slack’s acquisition. He looked for details regarding the pace of OM expansion going forward at the company’s analyst day next month. He said that with the Slack acquisition now closed, they see the potential for improvement progressively.

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