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In addition to co-CEO Keith Block’s resignation, Salesforce also announced plans to buy competitor Vlocity in cash for $ 1.3 billion.

(Photo: Reuters)

San Francisco With the SAP competitor Salesforce there is a surprising change at the top of the group. Co-CEO Keith Block resigns, the company said on Tuesday night after the San Francisco stock exchange closed.

In the future, the group will be managed solely by Marc Benioff. Salesforce also announced the figures for the past fiscal year 2019/2020 (January 31). Revenue increased 29 percent to $ 17.1 billion (€ 15.7 billion).

The software manufacturer’s profit, on the other hand, dropped almost 90 percent to $ 126 million. The reason for this was significantly higher taxes and sharply rising costs, for example for research and development. The Group slightly increased its sales forecast for the current financial year. According to this, revenue is expected to increase by around 23 percent to $ 21 to 21.1 billion. Salesforce also announced plans to buy competitor Vlocity in cash for $ 1.3 billion.

On the stock market, Block’s withdrawal overshadowed the somewhat better-than-expected numbers, the increased forecast and the takeover. The Salesforce paper recently lost around two percent after the aftermarket after having lost around two and a half percent in regular trading due to the general market weakness.

However, the share had also reached a record high last Thursday at $ 195.72. Salesforce is currently worth around 150 billion euros on the stock exchange, a little more than SAP,

More: Read here why Salesforce symbolizes the turmoil in the technology industry.


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