Salesforce has beaten its first quarter forecast of $2.95bn with revenue of $3.01bn.
This Represented a year-on-year growth of 25%, with stock rising by 4%, after the announcement on Tuesday.
Top performing Salesforce products in Q1 included:
- Sales Cloud: up 16%
- Service Cloud: up 29%
- Marketing Cloud: up 41%
So what spurred on this growth? According to Marc Benioff, chairman and CEO: “Our relentless focus on customer success is yielding incredible results, including delivering nearly two billion AI predictions per day with Einstein.”
Salesforce is looking to expand its reach outside of North America, which currently accounts for 70% of total revenues, and tap into the growing $11.5 billion cloud market of the Asian-Pacific region. Expenditure to grow these markets has contributed to an overall increase in operating costs by 18%.
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