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Salesforce Q1 Earnings Surpass Expectations; Share Price Rises By 3%

On June 4, 2019, Salesforce presented its Q1 earning, surprisingly, shares of the Company raised by 3%. Overall revenue of the company was around $3.74 billion and at present, the company is earning around 93 cents on its every share.

Salesforce has recorded a total increase in revenue of about 24%, the company has also started to focus on several other areas viz. services, marketing as well as customer support. At present, the cloud service provided by Salesforce has crossed the mark of $1 billion.

While making a press statement, one of the spokesperson of Salesforce stated that the company may get earnings per share around 46 cents during Q2. Spokesperson also said that during the present fiscal year, Salesforce might get total earnings per share and revenue around $2.89 and $16.17 billion on an average.

During a press event, one of the executives of Salesforce said that the Company may start to work on Artificial Intelligence. The Company further showcased its eagerness to work with which is considered as a philanthropic arm.

Previously, one of the spokesperson of Salesforce has stated that the Company may contribute more than $150 million on behalf of next fiscal year. As compared to April 2019, the stock price of Salesforce has increased. With a note, Steve Koenig stated that Salesforce has overcome every other obstacle and now it is reaping fruitful results.

While giving an exclusive interview to the press, one of the analysts stated that Salesforce has to suffer from the loss of business due to its rival Microsoft. The analyst also said that Salesforce has to suffer loss in business as Microsoft has undertaken the shares of small as well as medium companies.

In another report, analysts stated that most of the tech integrators are not considering Microsoft a big competitor to Salesforce. Tech integrators also negated the possibility that Microsoft is becoming a tough competitor to Salesforce.

Malcolm Kimpel
LEAD EDITOR & WRITER At All Industry News

Having a keen interest in the field of Business, Malcolm holds the responsibility of writing news articles and blogs related to business such as mergers, acquisitions, events, and much more. Malcolm is a skilled and experienced professional who puts forth business-related terms and concepts in an understandable and simple manner. Having an interest in political affairs across the world, in free time, he also puts forth his points of view through his personal blog.