Salesforce marked the year of 2017 as a stepping stone moment for them. Executives pushed resources and efforts into attaining the $10 billion threshold in annual revenue. Even though there’s still time until the end of this year, latest financial reports for the quarter looks like a bulls-eye. CEO Marc Benioff credits the success to their Einstein AI products.
Wall Street Is Expecting Salesforce to Reveal Insightful Products during Dreamforce Annual Event
On Tuesday, the king of customer relationship management or CRM posted its second-quarter earnings. The report indicates a large revenue of $2.56 billion on earnings of 33 cents per share.
Despite such a positive performance, the stock slid slightly for around 3% during the after-hours trading. Nonetheless, the CRM company is still leading the industry with a 36% share increase throughout the year.
The company is struggling to attain its annual financial target of $10 billion in revenue. At the same time, players in this industry are putting a lot of hope in this year’s Dreamforce conference.
People are expecting Salesforce to reveal some ground breaking products, which puts a lot of pressure on the company. During this event, critics are going to perform comprehensive reviews on Salesforce main assets, the Einstein AI products.
Salesforce CEO Marc Benioff Placed a Lot of Expectations for His Einstein AI Products
Salesforce was the first organization that created online tools for customer relationship management. This innovation assured the company a leading position in this booming industry.
However, today’s volatile markets are hard to satisfy and they can penalize any industry behemoth if it is not investing in its evolution. Otherwise, smaller companies that are not afraid to come up with risky yet brilliant ideas will steal the top spot with ease.
Therefore, Salesforce is betting a lot on artificial potential. Teams are working on algorithms trained into machine learning tech to unburden companies from their massive workloads.
CEO Marc Benioff has advertised the potential of his Einstein line heavily as of recently. Wall Street is keeping an eye on this promise as they expect some kind of automation of routine tasks within Salesforce upcoming services.
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