Salesforce, Inc. - CRM STOCK NEWS

Salesforce (CRM) reported strong fiscal Q3 2021 results with a revenue of $5.42 billion, marking a 20% increase year-over-year. The company has raised its FY21 revenue guidance to a range of $21.10 - $21.11 billion and initiated FY22 guidance of $25.45 - $25.55 billion. The GAAP diluted earnings per share for Q3 were $1.15, while non-GAAP EPS reached $1.74. Salesforce also announced a leadership transition as Mark Hawkins will retire, effective January 31, 2021, with Amy Weaver taking his place as President and CFO.

Salesforce (NYSE: CRM) has agreed to acquire Slack Technologies, Inc. (NYSE: WORK) for approximately $27.7 billion. Shareholders will receive $26.79 in cash and 0.0776 shares of Salesforce stock for each Slack share. The merger aims to create a unified platform for digital work, enhancing collaboration and customer experiences through Slack's integration with Salesforce Customer 360. The acquisition is expected to close in Q2 of Salesforce's fiscal year 2022, pending shareholder and regulatory approvals.

Salesforce (NYSE: CRM) announced record online sales during Cyber Week, reaching $270 billion globally and $60 billion in the U.S., a 36% increase year-over-year. This surge is attributed to shifting shopping behaviors amid the COVID-19 pandemic, with a remarkable 50% growth in digital sales on the Salesforce platform. The company noted that curbside pickup options significantly boosted revenues, while social media generated limited growth. Overall, Salesforce's Customer 360 platform facilitated over 31 million orders during this period.

Salesforce announced that its AI platform, Einstein, now generates over 80 billion AI-powered predictions daily across its products, enhancing sales, service, marketing, and commerce. The use of Einstein has surged as businesses adapt to a digital-first world, significantly improving customer interactions. Notable metrics include a 300% increase in bot sessions and a 32% increase in sales conversion rates using Einstein Lead Scoring. The trend reflects a broader industry shift towards AI, with global spending expected to reach $110 billion by 2024.

Salesforce (NYSE: CRM) has announced its annual Investor Day scheduled for December 8, 2020, at 10:30 a.m. PT. The event will provide investors with insights into the company's performance and future strategies. A live broadcast and subsequent on-demand replay will be accessible on the Salesforce website. An investor presentation will be available at 12:00 p.m. PT on the same day. Salesforce continues to lead the CRM sector by offering advanced technologies to enhance customer relationships.

Salesforce (NYSE: CRM) announced the granting of equity awards to new employees from Mobify Research and Development under its 2014 Inducement Equity Incentive Plan. This plan was established in July 2014 to comply with NYSE regulations. Mobify will enhance Salesforce's Commerce Cloud with modern storefront solutions, improving customization and shopping experiences across channels. A total of 19,322 restricted stock units (RSUs) were granted to 19 Mobify employees, vesting over four years. These actions are intended to drive revenue growth in a digital-first economy.

Salesforce (NYSE: CRM) announced that it will release its third quarter fiscal year 2021 results on December 1, 2020, after market close. A conference call is scheduled for 2:00 PM PT / 5:00 PM ET to discuss these results with investors. The call will be accessible via live webcast on Salesforce's Investor Relations website. Salesforce remains a leader in CRM, leveraging cloud and AI technologies to enhance customer relationships.

Salesforce (NYSE: CRM) announced an expansion of Work.com to aid companies in returning to growth amid the pandemic's new normal. New offerings include an Employee Workspace for productivity and an Employee Helpdesk for support. Communication apps like Queue Management and Broadcast Messaging enhance safety for in-person interactions. These tools aim to improve engagement while meeting evolving workplace challenges. Salesforce also collaborates with Thrive Global to prioritize employee wellbeing.

Salesforce (NYSE: CRM) announced that Chair and CEO Marc Benioff will speak at the 2020 Milken Institute Global Conference on October 21, 2020. He will participate in a virtual fireside chat discussing stakeholder capitalism with Hiro Mizuno, Special Advisor to the Milken Institute. The event will start at approximately 11:45 a.m. PT and can be viewed via a live webcast at this link.