Salesforce CEO Marc Benioff attends the TIME100 Gala at Jazz at Lincoln Center in New York on April 26, 2023.
- Salesforce CEO Marc Benioff told CNBC's Jim Cramer what contributed to his company's better-than-expected Wednesday earnings report.
- He praised the company's Data Cloud product, which he said gained a thousand new customers during the quarter.
Salesforce CEO Marc Benioff told CNBC's Jim Cramer what contributed to his company's better-than-expected Wednesday earnings report, highlighting his cloud data business and artificial intelligence product Einstein GPT.
Benioff said Salesforce added a thousand new Data Cloud customers over the quarter and called that business "the cherry at the top of the cake." The company's Data Cloud revenue was up 22% from the previous year. According to Benioff, companies are realizing they need proper data management to effectively bring AI into their businesses.
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"You're not going to go AI in your enterprise until you get your data together," Benioff said. "You're not just using the Reddit data or the internet data the way Chat GPT is, you know. For your enterprise, you have to get your data together, and that's why Salesforce Data Cloud is so important, and it's why we did those thousand Data Cloud deals in the quarter."
Salesforce reported $2.11 earnings per share, adjusted, compared with the $2.06 expected by LSEG. The company's revenue increased 11% from the previous year, jumping from $7.84 billion to $8.72 billion.
Money Report
During the OpenAI shakeup earlier in November, Benioff offered jobs to employees threating to leave the enterprise. He said on Wednesday Salesforce is "aggressively" continuing to recruit AI engineers.
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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Salesforce.
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