Salesforce Reports First Quarter Financial Results | Financial Buzz

Salesforce Reports First Quarter Financial Results

Salesforce (NYSE: CRM) reported first quarter financial results.  Due to the COVID-19 crisis, the company took several precautions to prepare for the future.  The company launched Salesforce Care to aid companies to stay connected to their employees, customers and partners during the coronavirus prices.  The company developed an online leadership program called Leading Through Change.  This program highlights the work Salesforce customers have been doing during the crisis and has over 75 million views to date. 

“Our results, amidst this global crisis, demonstrated our ability to execute at speed, innovate at scale and the strength of our business model,” said Marc Benioff, Chair & CEO, Salesforce. “We made long-term investments in keeping our employees safe, supporting our customers, delivering crucial innovation like Work.com, and helping our communities with PPE, grants, and technology. The pandemic showed us that digital is an imperative for every company, and we’re confident Salesforce will continue to accelerate as we bring our customers into the new normal.”

First quarter revenue amounted to USD 4.87 Billion, a 30% rise year over year.  Earnings per share was USD 0.11.  Cash generated from operations in the first quarter was USD 1.86 Billion.  Cash equivalents and marketable securities ended the first quarter at USD 9.80 Billion.