- Earlier this week, Salesforce CEO Marc Benioff said that the company’s revenue was expected to double in five years
This past week, Salesforce announced that it grew revenue by 33% to $4.5 billion for the three months ending October 31, which was above analyst expectations. And excluding certain items, Salesforce reported adjusted earnings per share of $0.75 while analysts were expecting it to be below $0.70.
In the earnings announcement, Salesforce also provided guidance for the next quarter with a revenue forecast of $4.74 billion to $4.75 billion.
Salesforce also said that its FY 2020 revenue guidance was $17 billion and reiterated that FY 2021 should be $20.9 billion. Salesforce had revealed the $20.9 billion FY 2021 forecast at its investor day event in November.
At the Dreamforce event, Salesforce also issued a revenue target of $35 billion for FY 2024 and the company said that revenue is expected to double in five years.
“We’re now on track to double our revenue in five years,” said Marc Benioff Salesforce co-CEO in a statement. “With Customer 360, only Salesforce is providing companies with a single source of truth, bringing them even closer to their customers across every touchpoint.”
Another major announcement that Salesforce made at Dreamforce was an update to its platform in order to gain a 360-degree view of customers, including actions and preferences across multiple devices. Salesforce co-CEO Keith Block cited the platform updates as the company’s “fourth act.”
As Salesforce continues to grow, it will make some other sizable acquisitions. Some of the company’s latest major acquisitions include Tableau for $15.3 billion in August and MuleSoft for $6.5 billion last year.
