Salesforce’s CEO Marc Benioff announced on Wednesday that the cloud software giant has raised its adjusted operating margins guidance for its current fiscal year to 28%, a significant feat towards achieving their goal of exceeding 30% adjusted operating margins in the next two years. The move indicates that the company’s major restructuring plan, which included laying off 10% of its workforce and shedding office space, announced in January is paying off for investors. The restructuring plan has been mostly completed, said Chief Financial Officer Amy Weaver. Benioff and Chief Operating Officer Brian Milham credited the company’s performance culture for driving its Q1 results.
Salesforce, the world’s leading customer relationship management software provider, provides businesses with a single interface to track customer activity, spending habits, and more. The company’s cloud-based services allow for more efficient operations and communication across a variety of industries. Salesforce is headquartered in San Francisco, California, and has offices worldwide.
Marc Benioff is a well-known American billionaire entrepreneur, author, and philanthropist. He is best known for co-founding Salesforce, a cloud computing company that has become one of the largest customer relationship management software providers. Benioff has also written several books, including Trailblazer: The Power of Business as the Greatest Platform for Change. As a philanthropist, Benioff has donated millions to various charities, including a $190 million donation to the University of California, San Francisco, Children’s Hospital.
