A good economy and “huge” investments by customers are to thank for Salesforce’s strong first quarter results, CEO Marc Benioff told CNBC on Tuesday.
In an interview with “Mad Money” host Jim Cramer after earnings were released, Benioff said the company had a “fantastic” quarter.
“The economy is really ripping and you can see that customers are going through this massive digital transformation,” he said.
Salesforce reported earnings and revenue that beat expectations on Tuesday.
Excluding certain items, the company reported 74 cents per share. Revenue came in at $3.01 billion versus the $2.95 billion expected by analysts.
Salesforce is also raising its guidance to $13.125 billion for this year, up from $10.5 billion last year, Benioff explained.
He’s also bullish about his long-term goals. Benioff said it is “crystal clear” that the company is “fast tracking” to a revenue run rate of $20 billion, which he’d like to hit by fiscal year 2022.
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