“We’re leaving the $20 billions behind, and the $30 billions are now ahead of us,” Salesforce co-CEO Marc Benioff told CNBC’s Jim Cramer on Tuesday.
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"We're leaving the $20 billions behind, and the $30 billions are now ahead of us," said Benioff, who co-founded Salesforce in 1999. He said Salesforce's next leg of growth continues to be propelled by the digital transformation and its customers needing a broad range of tools to support their own clients. That's why Salesforce has worked to stitch together all of its recent acquisitions, Benioff said, pointing to data analytics firm Tableau, integration software provider MuleSoft and chat app Slack.
Benioff also said he's pleased with Salesforce's operating cash-flow performance and projections. The company reported $6 billion for fiscal 2022, up 25% year over year, and with expectations of 21% to 22% growth in fiscal 2023. Dow-component Salesforce shares are up 7% over the past five sessions, but they remain down nearly 27% over the past three months as investors have rotated away from growth-oriented technology companies toward more defensive parts of the market.for the CNBC Investing Club to follow Jim Cramer's every move in the market.
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