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Salesforce’s Quarterly Sales Jump on Corporate Spending

  • Top CRM maker boosts annual sales forecast on renewed demand
  • Dreamforce conference’s in-person events to be scaled back
Bloomberg business news
WATCH: Bret Taylor, president and chief operating officer at Inc.,discusses second-quarter earnings, connecting with customers and the challenges the company faces with cybersecurity. (Source: Bloomberg)
Updated on Inc., the top maker of cloud-based customer-relations software, posted a strong gain in quarterly sales and boosted its forecast for annual revenue, a sign businesses have accelerated spending and are buying a broader array of products added through acquisitions.

In the second quarter, which ended in July, revenue rose 23% to $6.34 billion, the San Francisco-based company said Wednesday in a statement. The average analyst prediction was $6.24 billion. Profit rose to $1.48 a share, topping the average estimate of 92 cents. Sales in the current fiscal year will be as much as $26.3 billion, while analysts on average were projecting $26 billion.