Slack addition raises Salesforce revenue forecast to $32 billion

Sales Force Exceeded All Expectations With Business results in the fourth quarter of 2022 on Tuesday boasted that its recent acquisition of enterprise messaging platform Slack could help the CRM giant hit $32 billion in revenue next year.

Since the acquisition of $27.7 billion Slack in 2020, Salesforce continues to benefit financially from the continued popularity of the messaging platform. This is a trend that looks set to continue, as organizations around the globe continue to discuss facilitate hybrid and remote working models.

Salesforce isn’t slowing down Slack’s product roadmap either, with the platform rolling out voice tools Slack Huddles and Clip in the second half of 2021, a Community forum page—Hosted in the Salesforce Experience Cloud — and redesigned workflow tool. Salesforce said it expects $1.5 billion in sales from Slack in fiscal year 2023.

Salesforce is also continuing to integrate Slack with its other products. In September 2021, it revealed a set of integrations, which gives users new ways to access Salesforce’s Sales, Service, and Marketing Clouds from the team collaboration app, as well as the Tableau analytics engine. In a call with analysts on Tuesday, the company reaffirmed its commitment to integrating its products with Slack.

Record results for Salesforce

Salesforce had a good end to the fiscal year overall, generating $7.3 billion in total revenue in the final quarter of 2022, up 26% from the same period last year. All of its businesses — Sales, Services, Platforms (now including Slack), Marketing & Commerce, and Data — accounted for at least $1 billion in revenue for the first time in company history.

Salesforce updated its guidance for fiscal 2023 to about $32 billion in revenue, up 21% from the $26.5 billion the company achieved in 2022. The number was also higher than estimates. of consensus analysts is $31.8 billion. Salesforce shares rose more than 3% in response.

On the same call, Bret Taylor, who was promoted to co-CEO of Salesforce in 2021, said no other major acquisitions were underway. “We have no plans for any physical mergers and acquisitions in the near term,” Taylor said. “Slack is our focus.”

Copyright © 2022 IDG Communications, Inc. Slack addition raises Salesforce revenue forecast to $32 billion

Fry Electronics Team

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