When Salesforce announced during its most recent earnings call that it wouldn’t be providing a revenue forecast for next year, it was a bit of a shock, especially coming from the most successful SaaS company in the world.
With revenue of over $7.8 billion for the quarter and a goal of reaching $50 billion by its fiscal 2026, the company hasn’t exactly been doing poorly. Still, when you combine the lack of a forecast with the recent executive exodus, it begins to paint a picture of unusual instability at the CRM giant.
First, let’s look at that forecast — or the lack of one. It seems the economy has become so uncertain that Salesforce opted out of a forecast for its fiscal 2024 altogether (the three months ending October 31, 2022, comprised the third quarter of the company’s fiscal 2023). We use the word unprecedented these days an awful lot, but it’s pretty darn unusual for a company like Salesforce to tell …
