Salesforce Q4 Revenue Up 25%; Marketing Cloud Grows 31%
- Written by Klaudia Tirico
- Published in Financial News
Salesforce announced its financial results for the fiscal fourth quarter and full fiscal, highlighting total Q4 revenue of $1.81 billion, a 25% year-over-year increase.
The company saw significant growth among its top lines and clouds throughout the year, including:
- Marketing Cloud growth of 31%;
- Service Cloud growth of 25%;
- Continuing acceleration of APAC at 26%; and
- Others accumulating 43% growth.
"By any measure, this was a spectacular finish to the year with 27% revenue growth in constant currency for the fourth quarter, and for the full year," said Marc Benioff, Chairman and CEO of Salesforce. "We are raising our fiscal year 2017 revenue guidance to $8.12 billion at the high end of our range — unprecedented growth for a company of our size and scale."
During an earnings call, Benioff noted that Salesforce is selling more enterprise software because they are selling directly to CEOs. He continued by saying some of the largest transactions were done with the CEO. “I think it's really unusual, and that's why we're really selling more enterprise software than Oracle or SAP," he added.
"These are CEO-level conversations, we're in the board room, presenting to the board," said Keith Block, COO of Salesforce, during the call. "In the last three weeks, I've had more conversations with CEOs around transformation than in my entire career over 30 years."