01 June 2023
If you are covering the latest financial results from Salesforce, please find below a comment from Ben Barringer, equity research analyst at Quilter Cheviot:
“Like many of its big tech peers Salesforce’s latest numbers paint a resilient picture while also being agile enough to pivot from growth to profitability. While it previously spent to achieve growth, it has now reached the stage where it has matured and grown margins significantly in order for it to begin optimising the business and reducing headcount.
“Ultimately, Salesforce plays a critical role in a lot of the critical infrastructure of businesses, providing reliable CRM, Customer Service and Marketing systems and quality data insight. Given the huge interest around generative artificial intelligence, Salesforce has the capability to infuse it successfully across its product suite in a safe manner to help make companies even more efficient than they already are.
“And it is this ability to pivot that will always stand Salesforce and the rest of big tech in good stead. They can take advantage of both consumer and corporate trends extremely quickly, whereas more traditional companies get caught up in internal bureaucracy and red tape.”
