Salesforce, Inc. - CRM STOCK NEWS

Salesforce reported strong fiscal Q2 results for the period ending July 31, 2020, achieving $5.15 billion in revenue, a 29% year-over-year increase. Subscription and support revenues were $4.84 billion, also up 29%. GAAP diluted earnings per share reached $2.85, bolstered by a $2 billion tax benefit from international restructuring. Despite a 2% decline in operating cash flow to $0.43 billion, remaining performance obligations grew 21% year-over-year to $30.6 billion. Salesforce has raised its revenue and earnings guidance for FY21.

On August 11, 2020, Salesforce (NYSE: CRM) launched Work.com for Schools to assist educational institutions in safely reopening amid the pandemic. This initiative provides tools for data-driven decisions, communication, and remote learning support. Additionally, Salesforce is granting $20 million to five major U.S. school districts to enhance equitable learning opportunities. With a total investment in education reaching $118 million, Salesforce aims to bridge the digital divide and ensure every student can access quality education.

Salesforce (NYSE: CRM) announced that the University of Kentucky will implement its Work.com platform to ensure a safe return of students, faculty, and staff on August 17. Work.com provides emergency response management, contact tracing, health assessments, and shift scheduling. The university, which has used Salesforce's Education Cloud since 2017, created a return-to-campus framework involving 500 participants. This strategic deployment aims to enhance community health support and readiness while leveraging real-time data insights.

Salesforce (NYSE: CRM) will announce its second quarter fiscal year 2021 results on August 25, 2020, after market close. A conference call is scheduled for 2:00 p.m. PT / 5:00 p.m. ET to discuss the financial results. Investors can access the live webcast and pre-register via the Salesforce Investor Relations website. A replay will be available until September 8, 2020. This announcement emphasizes Salesforce's continued transparency and engagement with its stakeholders.

Salesforce (NYSE: CRM) has been named a Leader in Gartner's 2020 Magic Quadrants for CRM Customer Engagement Center, Field Service Management, and Sales Force Automation. This marks the twelfth consecutive year for the CRM Customer Engagement Center and fourteenth for Sales Force Automation. For the first time, Salesforce also earned recognition in Field Service Management, highlighting its commitment to the entire service lifecycle. The recognition reflects Salesforce's ability to adapt to changing market conditions, especially during the COVID-19 pandemic, providing tools to manage customer interactions effectively.

Salesforce, the leading CRM provider, announced that its Co-Founder Parker Harris will participate in a virtual keynote on July 10, 2020, at 8:00 a.m. PT / 11:00 a.m. ET, hosted by Piper Sandler. The event aims to engage investors and will be accessible via a live webcast on Salesforce's investor relations website. Founded in 1999, Salesforce continues to innovate in Customer Relationship Management, enhancing customer relationships across various industries through advanced technologies.

MuleSoft has unveiled the Accelerator for Healthcare, a suite of prebuilt APIs and integrations aimed at enhancing data connectivity in healthcare systems. This solution, available since June 2020, allows healthcare providers to efficiently manage patient data, improving the delivery of care during the COVID-19 pandemic. Key features include creating a comprehensive view of patients, facilitating COVID-19 care and contact tracing, and developing FHIR-compliant APIs. MuleSoft's offerings aim to streamline healthcare integration, thereby supporting organizations in their digital transformation efforts.

Salesforce (NYSE: CRM) has been recognized by Forrester Research as a leader in both B2C and B2B Commerce Suites in the Q2 2020 Forrester Wave report. The B2C Commerce offering received top scores in AI, product vision, and customer acquisition, while B2B Commerce excelled in business intelligence and AI. Adam Blitzer, EVP & GM, noted the importance of Salesforce Commerce Cloud in enabling companies to thrive in a digital-first economy, offering seamless shopping experiences across multiple channels. Salesforce continues to innovate with powerful tools for customer engagement.

Salesforce (NYSE: CRM) has strengthened its partnership with Pentagon Federal Credit Union (PenFed) to enhance financial services and member experiences amid the pandemic. Key initiatives include the launch of a Loan Deferment Portal, processing nearly 17,000 deferments for over 11,000 members, and the implementation of chatbots that have reduced phone service inquiries from 100% to 37%. This collaboration aims to increase productivity and provide personalized financial support to PenFed's 2 million members.