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Salesforce records impressive Q2 following expansion into new markets

(Image credit: Image Credit: Salesforce)

While most companies have suffered financially due to the Covid-19 pandemic, others have thrived - including software giant Salesforce.

According to CEO Marc Benioff, the company has had “one of the best quarters in history” and is well-positioned to come out of the pandemic even stronger.

For the quarter, Salesforce reported earnings of $2.85 per share, including $1.44 non-GAAP. The company took in $5.15 billion in revenue, rising by almost a third (29 percent) year-on-year. Making mark-to-market adjustments on its strategic investments, it managed to boost its non-GAAP earnings by 58 cents a share.

Looking at the year ahead, Salesforce expects $20.7 billion in revenue and up to $20.8bn with non-GAAP earnings. Earnings per share, meanwhile, could sit between $3.72 and $3.74, according to a ZDNet report.

Speaking to analysts, Benioff said opening up the company to new markets and bringing in new services has helped the firm achieve its dramatic growth. Implementing its services with AT&T, closing a deal with PayPal, and picking up steam all contributed to the solid results.

“Another incredible victory in the quarter has really been I don't think there's a product that we've ever built faster, but it's never been more successful, more rapidly," said Benioff.

"And you look at so many success stories, public sector organizations and enterprises today, in the middle of this pandemic, everyone needs contact tracing, they need to ship scheduling. Everybody needs workforce command center try to bring everyone back safely.”