Salesforce CEO Marc Benioff shared insights into the factors contributing to the company’s better-than-expected earnings report. He highlighted the success of Salesforce’s cloud data business and its artificial intelligence (AI) product, Einstein GPT. Benioff specifically mentioned the addition of a thousand new Data Cloud customers during the quarter, describing this segment as “the cherry at the top of the cake.” The revenue from Salesforce’s Data Cloud witnessed a notable 22% increase compared to the previous year.
According to Benioff, the growing realization among companies about the importance of proper data management is a key driver for the success of Salesforce’s Data Cloud. He emphasized that companies need to establish effective data management practices before integrating AI into their business operations. Benioff underlined the significance of consolidating data for enterprises, distinguishing it from the approach of utilizing internet or Reddit data, as seen in models like Chat GPT. The CEO highlighted the importance of Salesforce Data Cloud in this context and pointed to the thousand Data Cloud deals closed during the quarter as a testament to its importance.
In terms of financial performance, Salesforce reported adjusted earnings per share of $2.11, surpassing the expected $2.06 as forecasted by LSEG. The company’s revenue experienced a robust 11% increase compared to the previous year, rising from $7.84 billion to $8.72 billion.
Addressing the recent OpenAI shakeup in November, during which Benioff extended job offers to employees considering leaving the enterprise, he reiterated Salesforce’s commitment to aggressively recruiting AI engineers. The company’s focus on AI talent acquisition aligns with its strategy to strengthen its position in the rapidly evolving landscape of artificial intelligence and cloud computing.
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