Salesforce Chairman and CEO Marc Benioff Discusses Fourth Quarter Results with CNBC’s Jim Cramer
Click to watch Marc Benioff’s appearance on Mad Money with Jim Cramer.
Salesforce Chairman and CEO Marc Benioff joined Jim Cramer on CNBC’s “Mad Money” following Tuesday’s release of Q4 and full year FY 2020 financial results. The company made a series of additional announcements, including the news of Salesforce co-CEO Keith Block’s decision to step down and take a role as Advisor to the CEO, and the signing of a definitive agreement to acquire Vlocity.
Benioff discussed the wave of digital transformation and how CEOs around the world are deeply committed to transforming their businesses around their customers. He highlighted how Volkswagen is using Salesforce to gain a 360-degree view, a single source of truth for all customer engagement across the company across their 12 brands.
Salesforce announced Q4 FY20 revenue of $4.85 billion, up 35% year-over-year (34% in constant currency), and raised its revenue guidance for FY21 to $21.1B at the high end of the range, 23% projected growth year-over-year. The company also reiterated its long term revenue target for FY24 of $34B to $35B, doubling revenue in four years. Salesforce trades on the New York Stock Exchange under the ticker symbol CRM.
For more on the earnings report, read the press release. The full Mad Money video interview is available here.