Salesforce’s Marc Benioff Discusses “Phenomenal” Q3 with with CNBC’s Jim Cramer, Forecasts “Strong Fiscal Year Ahead”
Salesforce Chairman and co-CEO Marc Benioff discussed on Tuesday the “incredible customer demand” that the company is seeing in an interview with Jim Cramer on CNBC’s “Mad Money.”
"I don’t think the company’s ever been stronger or been in a better position, and the reason why is every company that we’re dealing with is going through a huge digital transformation and every digital transformation begins and ends with the customer," Benioff said.
"If you don’t have a digital, one-on-one relationship with your customer, you’re just not going to be that successful," he added.
Earlier Tuesday, Salesforce announced third-quarter revenue of $3.39 billion, an increase of 26 percent year-over-year. Salesforce also increased its FY19 revenue guidance and initiated full year fiscal 2020 revenue guidance at $16 billion—at the high end of the range.
Benioff shared his view of how companies have shifted their values in recent years.
"In technology over the last two decades, the most important thing has been the idea. That is, the best idea wins," he said. "That has been what gets you funded, that’s how you grow your company, that’s been your highest value: the best idea wins. No longer true. The current highest value is trust, and if trust is not your highest value, if the most important thing to you and your company is not trust, you need to look again, and that’s what’s happening with these companies today."
Salesforce trades on the New York Stock Exchange under the ticker symbol CRM. For more on the earnings report, read the press release and see the quarterly report slides. The full video interview is available here.
