IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

Salesforce revenue rockets 25%

The company has set its sights on achieving $20 billion revenues by 2022

Revenue rise

Salesforce has posted more impressive financial results revealing the SaaS company's revenues rocketed by 25% in the last quarter, reaching $2.68 billion. These latest figures take the company's total revenues to date up to $10 billion and it got to that figure faster than any other software company.

It has doubled its quarterly revenues in just two years in fact, with its Q3 2015 figures topping $1.38 billion.

"With our outstanding first quarter results, we are thrilled to be raising our fiscal 2018 revenue guidance by $100 million and raising our GAAP and non-GAAP earnings per share expectations for the year," said Marc Benioff, chairman and CEO, Salesforce.

"Salesforce has once again been named the CRM market leader, and we continue to grow our share in CRM - the fastest growing enterprise software market."

Benioff said it doesn't expect the business to slow down on growth over the next five years either. The company has revised its revenue goals substantially, taking aim at $20 billion by 2022.

"In fact as the fastest growing enterprise software company ever to reach $10 billion, we are now targeting to grow the company organically to more than $20 billion by fiscal year 2022 and we plan to do that to be the fastest enterprise software company ever to get to $20 billion," Benioff added.

To help it achieve such goals, the company also announced a number of executive moves, including the promotion of Quip's Bret Taylor to president and chief product officer. Alex Dayon, the company's ex-CPO will become president and Chief Strategy Officer.

"Bret is going to drive our product vision, design, development and go-to-market strategy. Alex is going to lead strategic initiatives working more closely with our customers on product direction and transformation," Benioff said.

Featured Resources

Meeting the future of education with confidence

How the switch to digital learning has created an opportunity to meet the needs of every student, always

Free Download

The Total Economic Impact™ of IBM Cloud Pak® for Watson AIOps with Instana

Cost savings and business benefits

Free Download

The business value of the transformative mainframe

Modernising on the mainframe

Free Download

Technology reimagined

Why PCaaS is perfect for modern schools

Free Download

Recommended

Salesforce investors reject call for investigation into claims the company is toxic for non-white workers
Careers & training

Salesforce investors reject call for investigation into claims the company is toxic for non-white workers

10 Jun 2022
Salesforce integration checklist
Whitepaper

Salesforce integration checklist

18 May 2022
Salesforce to trial green AI tools to help companies fast-track their journey to net zero
private cloud

Salesforce to trial green AI tools to help companies fast-track their journey to net zero

10 Feb 2022
Google Cloud appoints ex-Salesforce exec Kelisky as UK and Ireland managing director
Careers & training

Google Cloud appoints ex-Salesforce exec Kelisky as UK and Ireland managing director

10 Feb 2022

Most Popular

How to boot Windows 11 in Safe Mode
Microsoft Windows

How to boot Windows 11 in Safe Mode

7 Jun 2022
Attracting and retaining talent through training
Sponsored

Attracting and retaining talent through training

13 Jun 2022
Delivery firm Yodel disrupted by cyber attack
cyber attacks

Delivery firm Yodel disrupted by cyber attack

21 Jun 2022