Jim Cramer's Biggest Takeaway From Salesforce Earnings
What is iReal Money Stock of the Day Salesforce doing right?
Jim Cramer focused his Real Money column Wednesday morning on how Salesforce knows its customer.
Cramer said that that was obvious after Salesforce reported earnings Tuesday after the bell.
Adjusted earnings in the period were 93 cents a share vs.
74 cents a year earlier and ahead of analysts' forecasts of 61 cents.
Revenue rose to $3.74 billion from $3.01 billion a year earlier and bested expectations of $3.66 billion.
Cloud-based revenue jumped 11.2% to just below $1.1 billion.
1 in sales, we're No.
1 in service and we're leading in so many other areas.
1 in model-driven application platforms, driven by our amazing community of 6 million developers.
We're also a leader in marketing and commerce and continue to gain share and with MuleSoft we also have this No.
1 integration platform, it's incredible," said Marc Benioff, co-CEO of Salesforce.
Cramer kept a close eye on the customer.
"Salesforce customers are doing well because they had to digitize.
And even if they're doing badly in their business, it makes them even more digital.
Because that's the way that they get the business accelerated.
But then who is the customer has a lot to do with what he said at the end of the interview, which is that he wants more regulation because a lot of the companies don't know who the customers and they ought to," said Cramer.
Jim Cramer: Salesforce Knows Its Customer, but Do These Other Tech Giants?
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