from Salesforce Report Falls Short of Expectations.....
current quarter ending in January, Salesforce's revenue outlook met
expectations. The software maker expects revenue in a range of $7.224 to $7.234
billion vs. estimates of $7.23 billion.
company forecast earnings in a range of 72 cents to 73 cents a share, missing
estimates. Analysts had projected a profit of 82 cents a share.
The guidance suggests that some Salesforce
customers may be reluctant to pay for new projects as Covid-19 cases flare up
and the omicron variant emerges. Other corporate software makers have posted
results that showed challenges keeping up growth rates that met investor
Slack Acquisition and Impact…..
in July completed the acquisition of Slack for $27.7 billion, a deal meant to
fuel sales growth of more than 25% a year. The transaction gave Benioff another
product to hawk to customers -- a popular enterprise chat program that has been
used to help employees communicate and collaborate, especially during the
faces increasing competition from Microsoft Corp.’s Teams program, and it fell
behind companies like Zoom Video Communications Inc. at providing
videoconferencing services early in the lockdowns.
Salesforce Report Names
Bret Taylor as Co-CEO…..
Salesforce.com Inc. named Chief
Operating Officer Bret Taylor as co-chief executive officer with co-founder and
Chairman Marc Benioff during the Salesforce report.
Benioff will continue as board chairman
of Salesforce, which is the top maker of cloud customer-relations software and
one of the world’s 35 most valuable companies by market value. Taylor was also
named vice chair.
is a phenomenal industry leader who has been instrumental in creating
incredible success for our customers and driving innovation throughout our
company,” Benioff said Tuesday in a statement. “He has been my trusted friend for years,
and I couldn’t be happier to welcome him as Co-CEO.”
Taylor is a veteran tech executive. He
co-created Google Maps in 2005 and later served as Facebook Inc.’s chief
technology officer for three years, leaving in 2012 to co-found Quip, a
productivity software company. Salesforce bought Quip in 2016. Taylor has been
a board member at Twitter Inc. since 2016 and on Monday was named chairman.