CEO admits integration of mega-mergers remains an ongoing project
Global CRM giant Salesforce has reported first quarter revenue of $7.41 billion, up 24 percent on the same period last year. In doing so, the SaaS vendor eschewed some of the market gloom emanating from fellow travelers such as Workday and SAP. While gross profits increased to $5.37 billion from $4.41 billion, up 22 percent, net income fell to $28 million from $469 million. On an analyst call, executives noted the foreign exchange «headwinds» and the company lowered its revenue guidance for fiscal 2023 by $300 million to $31.7 billion, representing 20 percent growth year over year. CEO Marc Benioff was discordantly upbeat about the global economy, reflecting the idea that Salesforce customers somehow live in a world wholly unconcerned with inflation and geopolitical instability.
