Salesforce beats on Q4 revenue, spurred by remote work during pandemic – About Your Online Magazine

  • Cloud giant Salesforce reported better-than-expected revenue in the fourth quarter on Thursday.
  • Demand for its cloud-based software has increased as remote work extends through 2021.
  • Salesforce is also reducing remote work internally with a new “Work From Anywhere” program.
  • Visit the Insider Business section for more stories.

Salesforce reported better-than-expected fourth-quarter revenue on Thursday, helped by rising demand for its cloud-based software, as remote work extends through 2021.

While vaccine launches are underway, the growing use of automation and artificial intelligence for smooth operation is likely to maintain the digital transformation of operations and trends in cloud adoption among companies.

Last year, Salesforce’s revenue grew quarter after quarter, as more companies signed up for their cloud-based enterprise software after the pandemic led them to rethink ways of working in a remote world.

Revenue for the quarter ended January 31 increased to $ 5.82 billion from $ 4.85 billion a year earlier. On average, analysts expected revenue of $ 5.68 billion, according to IBES data from Refinitiv.

The software company slightly increased its tax revenue forecast for 2022, to between $ 25.65 billion and $ 25.75 billion, above analysts’ average estimate of $ 25.42 billion.

Salesforce is reducing remote work internally as well. The company announced earlier this month that its employees would have the option to work remotely full time, even when it’s safe to go back to the office. The company’s new guidelines, called “Work From Anywhere”, offer employees three options for how they will work in the future: flexible, office-based and completely remote.

Employees working in the “flexible” option will report to the office between one and three days a week, while employees working in the office will go most days or every day.

“An immersive workspace is no longer limited to a table in our towers; the 9:00 to 17:00 working day is over; and the employee experience involves more than ping-pong and snack tables,” Brent Hyder, president and Salesforce personnel director, wrote in a blog post announcing the change.

But Salesforce also faced a setback for its culture last week: two black women in management-level positions at Salesforce have publicly resigned, citing a toxic culture within the company.

Cynthia Perry, Senior Manager of Business Technology Research at Salesforce, wrote on LinkedIn that she experienced “countless micro-aggressions and injustices” during her time at the company. Vivianne Castillo, who served as design research and innovation manager, wrote on LinkedIn who also experienced micro-aggressions, in addition to gas lighting, during his tenure at the company.

(Reporting by Chavi Mehta in Bengaluru; Editing by Arun Koyyur)

Paula Fonseca