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Salesforce News Week 47 2017

Monday 20th November

Slow news day. Some investors have bought CRM shares, some have sold, blah, blah, blah. Nothing to get excited about.

Tuesday 21st November

Vertex announces integrations from it's automated use and sales tax calculation experience. But, all links to the Business Wire and Vertex article has disappeared. Here's what was said at the time.

By incorporating Vertex solutions with Salesforce, businesses have a unified, accurate and automated sales and use tax calculation experience. The integrations support the process of producing, filing and remitting returns and payments, either in the cloud or on-premise. The solutions also tightly integrate address cleansing into Salesforce to ensure every transaction is assigned to the proper jurisdiction.

Wednesday 22nd November

The day the news week got interesting with the announcement of Salesforce's Q3 2017 earnings. Also a good news day with Uber's announcement of paying hackers $100,000 to delete 57m user records and Meg Whitman stepping down as CEO of HP.

Salesforce (CRM) posted strong Q3 results but “disappointing” current quarter earnings guidance.

https://www.ft.com/content/effe93bc-d8d6-35ff-8e20-eecaa47b4567

“Salesforce delivered a record third quarter, and we’re on a path to exceed $20 billion faster than any enterprise software company in history,” said chief executive Marc Benioff. In the three months ended in October, the company reported a profit of $51.4m or 7 cents a share, compared with a loss of $37.3m or 5 cents a share in the year ago quarter. Adjusting for one-time items, earnings of 39 cents a share were 2 cents ahead of analysts’ estimates.

Not everyone was so downcast with emotive words like "disappointing". In Marketwatch;

https://www.marketwatch.com/story/salesforce-earnings-lead-to-high-praise-as-best-software-company-on-the-planet-2017-11-22

Other analysts were more unbridled in their enthusiasm for the company, including one note sent with the email subject line, “Best Software Company On The Planet, Analyst Says.” Canaccord Genuity’s Richard Davis, who has a buy rating on Salesforce and raised his price target to $130 from $120, actually wrote, “we do not know how anyone can reasonably argue that Salesforce is not one of, if not the highest quality software companies on the planet.”

From IT Pro

http://www.itpro.co.uk/software-as-a-service-saas/30024/salesforce-revenue-rockets-25

Salesforce has posted more impressive financial results revealing the SaaS company's revenues rocketed by 25% in the last quarter, reaching $2.68 billion. These latest figures take the company's total revenues to date up to $10 billion and it got to that figure faster than any other software company.

Not to be buried in the earnings review, Salesforce also announced Quip CEO Brett Taylor Promoted to President and Chief Product Officer. Alex Dayton moves to Chief Strategy Officer.

https://techcrunch.com/2017/11/21/salesforce-appoints-bret-taylor-as-chief-product-officer/

http://investor.salesforce.com/about-us/investor/investor-news/investor-news-details/2017/Salesforce-Names-Bret-Taylor-President-and-Chief-Product-Officer-and-Names-Alex-Dayon-President-and-Chief-Strategy-Officer/default.aspx

"We are fortunate to have two such exceptional technology leaders in Alex and Bret to help lead Salesforce's next wave of growth, innovation and customer success," said Benioff.
Taylor is the co-founder and CEO of Quip, which was acquired by Salesforce in 2016. He has spent his career building widely used products for businesses and consumers. Prior to founding Quip, Taylor served as the CTO of Facebook, which he joined in 2009 after it acquired his social networking company, FriendFeed. Bret also spent several years at Google, where he co-created Google Maps.
Dayon joined Salesforce in 2008, when the company he founded, InStranet, was acquired by Salesforce. During his nine-year tenure in Salesforce's product organization, Dayon led the growth, expansion and evolution of Salesforce's product portfolio—transforming the company from a disruptor in sales force automation to the global leader in CRM with market leading solutions across sales, service, marketing, commerce and more.

Thursday and Friday also continued the earnings call coverage and were otherwise quiet due to Thanksgiving.

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