Observed Signal · Aug 26, 2020 · Earnings Report · Source: OnlineMarketing.de · Impact: 4/5 · Sentiment: Positive
Salesforce raises FY2021 revenue guidance
Salesforce reported a 29% year-over-year revenue increase in Q2 of its fiscal year 2021, reaching $5.15 billion. In response, the company raised its full-year 2021 revenue guidance to $20.7–$20.8 billion, implying 21–22% annual growth, up from an earlier forecast of $20.0 billion. For Q3, Salesforce projected revenue of $5.24–$5.25 billion, about 16% growth YoY. CEO Marc Benioff called the quarter among the best in Salesforce’s history given ongoing crises, highlighting the strength of the Customer 360 platform and the resilience of its business model. President and COO Bret Taylor emphasized Salesforce’s low-code values that enable customers to deploy the platform without professional developers. Reuters noted that remote-work trends during the COVID-19 pandemic contributed to demand. The results supported a intraday stock rise of up to 15%, reflecting upbeat investor sentiment.
Earnings update with raised revenue guidance from a major MarTech vendor.
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Key Takeaways & Evidence Grounding
- Q2 FY2021 revenue rose 29% YoY to $5.15B.
- Full-year FY2021 revenue guidance raised to $20.7–$20.8B (21–22% YoY).
- Previously guided to $20.0B for FY2021.
- Q3 FY2021 revenue guidance set at $5.24–$5.25B (about 16% YoY).
- Stock rose intraday up to 15% after the results.
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