Salesforce had another stellar quarter, beating analysts’ expectations in its third-quarter earnings last night. Revenue is up 26% y-o-y and the Remaining Performance Obligation (RPO) is now at $21.2B, up 34%. Marc Benioff has even higher expectations for Q4, putting some pressure on co-CEO Keith Block. The company also raised FY 2019 guidance and predicts 2020 revenue will reach $16B, expecting continued growth in cloud computing sales.
The strategic acquisition of Mulesoft, which was finalized in May, is already showing success with its ability to unlock data from legacy systems and accelerate digital transformation – a current focus for C-suite executives. Mulesoft helps power Customer 360, Salesforce’s multiconnected cloud product which combines Sales, Service, Einstein AI, and analytics into a single platform. This offering is a competitive advantage for Salesforce which they will continue to push in order to increase product adoption.
In this podcast, our Salesforce Practice Leader, Adam Mansfield, covers what these Q3 results mean for customers and how they should approach their Salesforce relationship moving forward.