Leading CRM vendor Salesforce has reported its first $1bn-plus revenue quarter in Europe as a result of dramatic growth, which came on the back of the firm's first $5bn-plus sales quarter for the group as a whole.
Europe represented 21% of sales, Asia-Pacific 9%, with the remaining 70% generated in the US. The European growth in the second quarter represented a 36% year-on-year increase.
For the quarter ended 31 July, the company said total revenue reached $5.15bn, up 29% year-over-year. As a result, Salesforce has raised its full year revenue guidance to between $20.7bn and $20.8bn – which would represent a 21% to 22% annual increase.
Quarter three guidance is between $5.24bn and $5.25bn - up around 16% on the same quarter last time.
Total subscription and support revenues for the second quarter were $4.84bn, an increase of 29% year-over-year. Professional services and other revenues for the quarter were $310m, representing a 23% increase.
“It’s humbling to have had one of the best quarters in Salesforce’s history against the back-drop of multiple crises seriously affecting our communities around the world,” said Marc Benioff (pictured), chair and CEO of Salesforce. “Salesforce was founded on our belief in stakeholder capitalism and our core values of trust, customer success, innovation and equality. Our success in the quarter brought all of this together with the power of our Customer 360 platform, the resilience of our business model, putting our customers first and doing our part to take care of all of our stakeholders. We know that together we have an opportunity to emerge from these times even stronger.”
Cash generated from operations for the second quarter was $430m, a decrease of 2% annually. Total cash, cash equivalents and marketable securities at hand at the end of the quarter totalled $9.28bn.
