Wednesday, August 25, 2021
Optimism after Slack takeover
Salesforce raises outlook significantly
After the takeover of Slack, CRM provider Salesforce is bursting with confidence. The software provider corrects its sales forecast upwards and thus also exceeds the optimistic expectations of the analysts.
The SAP competitor Salesforce has more confidence after taking over the office chat provider Slack. For the fiscal year ending in January 2022, revenues between 26.2 and 26.3 billion dollars are now expected, the US company announced after the market closed. That is about 600 million dollars more than previously forecast and significantly more than the 21.25 billion dollars achieved in the same period last year. Analysts had expected $ 26 billion.
Salesforce CFO Amy Weaver said Slack’s momentum could now be built on. The recent $ 27 billion Slack acquisition was the largest acquisition in the company’s history.
As an industry leader in the market for customer management software (CRM), Salesforce is benefiting from the trend towards home offices. As a result, companies must increasingly rely on computing capacities and applications from the cloud so that their employees can act remotely. Experts assume that the ongoing vaccination campaign will not change anything in terms of development.
In the second quarter, sales climbed 23 percent to $ 6.34 billion. The profit however shrank to 535 million dollars after 2.63 billion in the same period last year. This is also due to high investments and a tax credit in the same quarter of the previous year. Just recently, Salesforce caused a stir with the announcement that it would be launching a streaming service for business customers in September – with podcasts, live events and series.