clock menu more-arrow no yes mobile

Filed under:

Marc Benioff's Salesforce Soars as Quarterly Sales Rise 26 Percent

A hundred more deals worth $1 million or more than the same period last year.

Shares of cloud sales and marketing software company rose by more than 10 percent in after-hours trading as the company’s fourth-quarter earnings beat Wall Street’s expectations.

Revenue was up 26 percent to $1.4 billion, topping estimates, while profit per share was in line with analysts’ predictions at 14 cents. The company said it expects to earn between 13 cents and 14 cents in the current quarter, slightly below the Street’s 15 cents, with revenue increasing 23 percent to about $1.5 billion.

In an interview with Re/code, President and Vice Chairman Keith Block said Salesforce closed 550 deals worth at least $1 million or more during the quarter, which is 100 more than during the same period a year ago. “It means our strategy is working — we’re getting a lot of mind share with customers who are swapping out their legacy software,” he said.

This article originally appeared on

Sign up for the newsletter Today, Explained

Understand the world with a daily explainer plus the most compelling stories of the day.