Salesforce, Inc. - CRM STOCK NEWS

Salesforce (NYSE: CRM) announced the launch of the Naloxone Virtual Dispensary by the Nevada Department of Health and Human Services to combat the opioid crisis. This application tracks naloxone supply and enables efficient management of federally appropriated funds. Since its deployment, over 11,861 naloxone kits have been dispensed, along with 4,942 kits to first responders and 856 overdose reversals reported. The initiative aims to improve community health amidst rising opioid overdose rates exacerbated by the COVID-19 pandemic.

Salesforce (NYSE: CRM) has been recognized as a Leader in Gartner's 2020 Magic Quadrant for Digital Commerce for the fifth consecutive year. This recognition highlights Salesforce’s ability to execute and its completeness of vision in the digital commerce space. The Salesforce Commerce Cloud supports over two billion shoppers monthly, providing a comprehensive platform for businesses to enhance customer experiences across multiple channels. The emphasis on digital transformation is paramount as companies seek scalable commerce solutions to meet rapidly evolving consumer demands.

Salesforce (NYSE: CRM) announced the granting of equity awards to 703 employees of Vlocity, Inc. as part of its 2014 Inducement Equity Incentive Plan. A total of 363,731 restricted stock units (RSUs) and 88,463 stock options were distributed. The RSUs vest over four years, with 25% vesting on the first anniversary. The stock options also vest over four years, with 25% vesting on the first anniversary, followed by monthly vesting. This initiative aims to enhance Salesforce's industry capabilities and provide further tools for customer digital transformation.

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.