In this Cloud Wars Minute, Bob reviews Salesforce’s Q3 earnings and performance, which represent the lowest growth rate the company has seen over the last five years.
Highlights
00:25 – In the last several years, Salesforce has been the outlier amongst the Cloud Wars Top 10 due to its ability to grow between 20%-35%. In Q3, which ended on October 31, Salesforce’s growth rate stumbled.
00:57 – Salesforce’s Q3 growth rate was 14%, for a total revenue of $7.84 billion. In comparison to other businesses, these are phenomenal fiscal numbers.
01:28 – Many other Cloud Wars Top 10 companies have experienced a Q3 growth rate that was relative to the numbers they have been seeing throughout 2022 – Salesforce dropped from its normal growth rate.
02:09 – Over the last 20 quarters, Salesforce’s growth rate has not dropped below 20%. Bob proposes five questions Salesforce should ask itself:
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