Welcome to the Cloud Wars Minute — your daily news and commentary show, hosted by Cloud Wars Founder Bob Evans. Each episode provides insights and perspectives around the “reimagination machine” that is the Cloud.
In this Cloud Wars Minute, Bob reviews Salesforce’s Q3 earnings — the good, the bad, and the ugly.
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00:32 — Sometimes companies in the Cloud Wars cannot live up to their own standards — seemingly the case with Salesforce’s Q3 growth rate. Bob says there was “not a lot of good, a fair amount of bad, and more ugly than Salesforce could deal with at one time.”
01:16 — Salesforce’s Slack revenue was up 46%. Although Salesforce did not release a growth rate for its industry cloud business, it said it has been an absolute tailwind for overall revenue. The company’s MuleSoft integration revenue was up 19%.
01:38 — Salesforce saw:
- 12% growth in its SalesCloud
- 12% growth in its Service Cloud
- 12% growth in its Marketing and Commerce business
- 13% growth in its data business
02:24 — Slack CEO Stewart Butterfield and Salesforce Co-CEO Bret Taylor are leaving the company, which presents a bad picture of what is going on at the company.
03:03 — Salesforce Tableau — its data product — only saw an 8% growth in revenue.
03:41 — Overall, Q3 of 2022 did not live up to the standards that Salesforce has set for itself.
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