Category Archives: earnings

Cloud infrastructure market keeps rolling in Q1 with almost $40B in revenue

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Conventional wisdom over the last year has suggested that the pandemic has driven companies to the cloud much faster than they ever would have gone without that forcing event with some suggesting it has compressed years of transformation into months. This quarter’s cloud infrastructure revenue numbers appear to be proving that thesis correct. With The […] Continue reading Cloud infrastructure market keeps rolling in Q1 with almost $40B in revenue→

Snowflake latest enterprise company to feel Wall Street’s wrath after good quarter

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Snowflake reported earnings this week, and the results look strong with revenue more than doubling year-over-year. However, while the company’s fourth quarter revenue rose 117% to $190.5 million, it apparently wasn’t good enough for investors, who have sent the company’s stock tumbling since it reported Wednesday after the bell. It was similar to the reaction […] Continue reading Snowflake latest enterprise company to feel Wall Street’s wrath after good quarter→

Salesforce delivers, Wall Street doubts as stock falls 6.3% post-earnings

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Wall Street investors can be fickle beasts. Take Salesforce as an example. The CRM giant announced a $5.82 billion quarter when it reported earnings yesterday. Revenue was up 20% year over year. The company also reported $21.25 billion in total revenue for the just closed FY2021, up 24% YoY. If that wasn’t enough, it raised […] Continue reading Salesforce delivers, Wall Street doubts as stock falls 6.3% post-earnings→

IBM transformation struggles continue with cloud and AI revenue down 4.5%

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A couple of months ago at CNBC’s Transform conference, IBM CEO Arvind Krishna painted a picture of a company in the midst of a transformation. He said that he wanted to take advantage of IBM’s $34 billion 2018 Red Hat acquisition to help customers manage a growing hybrid cloud world, while using artificial intelligence to […] Continue reading IBM transformation struggles continue with cloud and AI revenue down 4.5%→

Salesforce beats growth expectations, as investors digest the Slack acquisition

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Today after the bell, Salesforce reported its third-quarter earnings for its fiscal 2021, a period that ended October 31, 2020. The CRM giant reported top-line revenue of $5.42 billion, up 20% from the year-ago period. Salesforce also had net income of $1.08 billion and earnings per share of $1.15. Analysts had expected the company to […] Continue reading Salesforce beats growth expectations, as investors digest the Slack acquisition→

Alibaba passes IBM in cloud infrastructure market with over $2B in revenue

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When Alibaba entered the cloud infrastructure market in earnest in 2015 it had ambitious goals, and it has been growing steadily. Today, the Chinese ecommerce giant announced quarterly cloud revenue of $2.194 billion. With that number, it has passed IBM’s $1.65 billion revenue result (according to Synergy Research market share numbers), a significant milestone. But […] Continue reading Alibaba passes IBM in cloud infrastructure market with over $2B in revenue→

SAP shares fall sharply after COVID-19 cuts revenue, profit forecast at software giant

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SAP announced its Q3 earnings yesterday, with its aggregate results down across the board. And after missing earnings expectations, the company also revised its 2021 outlook down. The combined bad news spooked investors, crashing its shares by over 20% in pre-market trading and the stock wasn’t showing any signs of improving in early trading. The […] Continue reading SAP shares fall sharply after COVID-19 cuts revenue, profit forecast at software giant→

Box benefits from digital transformation as it raises its growth forecast

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Box has always been a bit of an enigma for Wall Street and perhaps for enterprise software in general. Unlike vendors who shifted tools like HR, CRM or ERP to the cloud, Box has been building a way to manage content in the cloud. It’s been a little harder to understand than these other enterprise […] Continue reading Box benefits from digital transformation as it raises its growth forecast→

How Salesforce beat its own target to reach $20B run rate ahead of schedule

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Salesforce launched in 1999, one of the early adherents to what would eventually be called SaaS and cloud computing. On Tuesday, the company reached a huge milestone when it surpassed $5 billion in revenue, putting the SaaS giant on a $20 billion run rate for the first time. Salesforce revenue has been on a firm […] Continue reading How Salesforce beat its own target to reach $20B run rate ahead of schedule→