- As part of Salesforce’s massive, 170,000-person tech conference that kicks off in San Francisco this week, the company will have an investors’ day.
- Ahead of that event, Salesforce on Monday gave a forecast for its fiscal 2019 revenue, ranging between $12.45 billion and $12.5 billion.
- CEO Marc Benioff has been talking since 2016 of becoming a $20 billion in revenue company and it won’t do that anytime soon. But it still expects to grow by 20% next year.
Salesforce issued an unusual press release on Monday just as its famous billionaire founder CEO hit the stage in San Francisco to open its mega-tech conference Dreamforce.
The press release says that Salesforce expects to finish its next fiscal year with between $12.45 billion and $12.5 billion in revenue. It will wrap up its fiscal 2019 year in January, 2019. This is the first official time that Salesforce has given guidance for 2019.
As for the current year, fiscal year 2018, Salesforce expects to finish at between $10.35 billion and $10.40 billion in annual revenue. That means it expects to grow by about 20% next year, it said.
The sales forecast is about on par with what analysts expected for 2019, according to Yahoo finance, which had analysts on average predicting $12.46 billion.
The odd thing about the announcement is that revenue predictions are typically done when a company reports earnings. And Salesforce is scheduled to reports its third-quarter, 2018, earnings in just a couple of weeks, on November 21.
A great talking point for the CEO
So why not wait? Because CEO Marc Benioff loves to talk about how rapidly his company is growing and, as part of its 170,000-person strong tech conference this week, he will be holding an investors’ day on Tuesday.
At that investors’ day, he’s almost certainly going to be asked about revenue Read More Here