Salesforce Reports Record Q2 with 22 Percent Increase in Revenue
Last week, leading CRM provider Salesforce (NYSE: CRM) reported record revenue for the second quarter of its fiscal year 2020. For the quarter ended July 31, 2019, Salesforce reported revenue of $4.0 billion, a 22% increase year-over-year, exceeding estimates. Subscription and support revenues comprised the majority of total revenue at $3.75 billion, also a 22% increase year-over-year, driven by Sales Cloud revenue of $1.13 billion and Service Cloud revenue of $1.09 billion. Professional services and other revenue made up the remaining $252 million, a 14% increase year-over-year.
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