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Salesforce Surges as Large Revenue Deals Help Drive Growth

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Jack Scharfenberg
May 18, 2016 20:12

The company also Wednesday forecast revenue in the current quarter that topped analysts estimates, sending shares up as much as 6.6 percent in extended trading.Chief Executive Officer Marc Benioff is benefiting from a multiyear effort to persuade corporations to adopt software delivered over the Internet, or the cloud.

During a call with analysts, the company touted new deals with Samsung Electronics Co., Uber Technologies Inc. and Amazon.com Inc. that expanded on existing relationships.

Revenue increased 27 percent to $1.92 billion in the fiscal first quarter ended April 30, topping the average estimate of $1.89 billion.

Over the last three years -- as successful as the company has always been -- we have put a particular emphasis on the enterprise and a focus on expansion in our international markets, Keith Block, president and chief operating officer, said on a conference call with analysts.

Benioff said the company will continue to look for new ways to work with Amazon s cloud services, which provide computing power and storage for customers.

The acquisition will help it offer AI capabilities to automate and personalize customer support, marketing and many other business processes.

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Jack Scharfenberg
May 18, 2016 20:12
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