OPEN APP
Home >Companies >News >Salesforce boosts sales outlook as covid-19 continues to lift demand

Salesforce.com Inc. boosted its full-year sales forecast as workplaces continue to spend money on cloud-based business software.

The San Francisco-based company, which is the market leader in sales software, raised its fiscal 2022 revenue guidance to between $26.25 billion and $26.35 billion, an increase of its previous estimate of $26.2 billion to $26.3 billion.

The company also initiated revenue guidance for next year, ranging from $31.65 billion to $31.80 billion.

The company’s shares on Thursday rose more than 5% on the news.

Salesforce has been one of the biggest beneficiaries of the pandemic, with companies adopting more cloud-based software tools to stay connected with their customers. Its shares are up about 84% from March 2020.

Last month, Salesforce Chief Operating Officer Bret Taylor said that the spread of the more-infectious Delta variant of Covid-19 had accelerated the adoption of cloud-based tools. “Delta has shown this virus is not going away," he said in an interview.

Salesforce recently closed on its $27.7 billion purchase of chat-based business communication company Slack Technologies Inc. in what is its biggest acquisition ever.

At its Dreamforce tech conference this week, the company emphasized product integrations with Slack in designing what it calls its “digital headquarters" to help workplaces keep working remotely.

“My digital headquarters is more important than my physical headquarters," Salesforce Chief Executive Marc Benioff said at the conference.

This story has been published from a wire agency feed without modifications to the text

 

 

 

 

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout