What happened
Shares of salesforce.com (NYSE: CRM) launched 26% on Wednesday at a record high of $ 272.32, following the release of the exceptional fiscal results of the second quarter of the cloud computing 2021.
So what
Despite the challenges presented by COVID-19, Salesforce’s revenue rose 29% year-on-year to $ 5.15 billion. The software program giant enjoyed broad-based growth in all of its business segments. Revenues in their sales, service, marketing / commerce and platform divisions accounted for 13%, 20%, 21% and 66% respectively.
Shares of Salesforce fell Wednesday. Image Source: Getty Images.
In fact, Salesforce’s adjusted earnings per share rose 118% to $ 1.44. Even after excluding a profit of $ 0.58 on their strategic investments, the company’s adjusted EPS still ran more than 30%.
“It is modest to have one of the best quarters in the history of Salesforce against the backdrop of multiple crises that have plagued our communities around the world,” CEO Marc Benioff said in a press release.
Well what
Salesforce is positioned to take advantage of the megatrend for digital transformation perhaps more than any other company. Companies of all kinds are adopting Salesforce’s cloud-based software, which makes it easier to do business remotely. Salesforce is also a leader in areas such as data aggregation, integration and visualization, which are becoming increasingly important as companies try to use insights from a wide variety of information sources. This powerful backlash stimulates Salesforce’s growth, both today and likely in the future.
