Salesforce Com Inc - CRM STOCK NEWS

Salesforce (NYSE: CRM) has been recognized as the #1 CRM provider by International Data Corporation (IDC) in its latest Worldwide Semiannual Software Tracker, marking the 10th consecutive year for this distinction. The report highlights Salesforce's growth in worldwide CRM market share and revenue, surpassing that of competitors in 2022. Salesforce leads in several segments, including sales, customer service, marketing applications, and enterprise community applications. The company emphasizes its commitment to innovation, with AI and data technology central to its strategy to enhance customer connections. Salesforce also claims the top market share in North America, Latin America, Western Europe, and Asia-Pacific.

Salesforce (NYSE: CRM) has partnered with The RealReal (NASDAQ: REAL), a leading online luxury resale marketplace, to enhance the overall customer journey for consignors and shoppers. This collaboration aims to create a fully-personalized digital selling and shopping experience for over 31 million members. The RealReal has recently expanded its operations, now numbering 13 physical locations and adding approximately 20,000 items daily to its platform. With Salesforce's Sales Cloud and Marketing Cloud, The RealReal will utilize data for tailored customer interactions and improve engagement across various channels.

Salesforce (CRM) and Elliott Investment Management have released a joint statement regarding the upcoming 2023 Annual Meeting of Stockholders. In light of Salesforce's successful fiscal year 2023 results and its New Day profitable growth framework, Elliott has chosen not to nominate directors, emphasizing a commitment to their productive relationship. Salesforce’s management, including CEO Marc Benioff, expressed gratitude for Elliott’s collaborative input. The annual meeting will proceed as planned, requiring no action from stockholders.

Wix announces a significant change to its Board of Directors, effective March 8, 2023, aimed at enhancing its strategic direction. Gavin Patterson, formerly of Salesforce, and Francesco de Mojana, previously of Permira, will join the board, bringing extensive experience in enterprise software and operational efficiencies. These appointments aim to bolster Wix's focus on product-led growth while maintaining profitability, targeting the "Rule of 40" by 2025. Concurrently, board members Yuval Cohen and Roy Saar have resigned after years of service. This strategic refresh is expected to strengthen Wix's leadership as it navigates its next growth phase.

Salesforce (NYSE: CRM) has launched Einstein GPT, the first generative AI technology for CRM, enhancing productivity across sales, service, and marketing interactions. The integration with OpenAI provides real-time personalized content generation for Salesforce users. Additionally, Salesforce Ventures announced a $250 million Generative AI Fund to support startups in the AI space. This innovative offering promises significant improvements in customer engagement through tailored communication and automation, reflecting a strategic move towards AI-driven customer experiences.

Elliott Investment Management, a top investor in Salesforce (NYSE: CRM), has issued a statement emphasizing recent strides by the company towards rebuilding investor trust.

Key announcements include accelerated margin targets, a commitment to responsible capital return, and the establishment of a business transformation committee while disbanding the M&A committee. Elliott acknowledges Salesforce's progress but stresses the need for a sustainable leadership plan and board accountability to regain full investor confidence. Elliott plans to maintain engagement with Salesforce to ensure optimal outcomes for the company.

Salesforce (NYSE: CRM) reported its fourth quarter and full fiscal year 2023 results, highlighting a fourth quarter revenue of $8.38 billion, a 14% year-over-year increase. For the full year, revenue reached $31.4 billion, marking an 18% Y/Y rise. The GAAP operating margin was 3.3% and non-GAAP operating margin was 22.5%. The fourth quarter GAAP diluted loss per share was $(0.10), while non-GAAP diluted EPS was $1.68. Salesforce increased its share repurchase program to $20 billion and provided FY24 revenue guidance of $34.5 to $34.7 billion, anticipating growth of about 10% Y/Y.

Trax, a leading global provider of computer vision solutions, has launched a MuleSoft Certified Connector for its platform, facilitating integration with Salesforce Consumer Goods Cloud. This connector aims to enhance return on investment for consumer packaged goods (CPG) companies by enabling seamless access to real-time shelf data. By leveraging Trax's insights within Salesforce, businesses can improve retail execution and make informed decisions, as indicated by Trax's Chief Revenue Officer, David Gottlieb. The partnership is designed to support digital transformation efforts amidst rising competition in the CPG sector.