Salesforce.com (CRM.US) CEO Targets Return to Double-Digit Sales Growth

Stock News
Sep 10

Salesforce.com (CRM.US) Chief Executive Officer Marc Benioff stated that he aims for the company to return to double-digit sales growth, which would bring annual revenue close to $50 billion. Speaking at a financial conference hosted by Goldman Sachs Group, he said: "Performance is indeed accelerating right now, and I expect this trend to continue. My goal is to return to double-digit growth territory."

Benioff indicated that the industry is at the beginning of an artificial intelligence revolution that is expected to drive its development. The software manufacturer's sales are currently growing at approximately 9% annually, while the financial outlook released last week failed to satisfy investors.

Following Salesforce.com's quarterly report release, the stock declined nearly 5%, marking its largest single-day drop in five months. Benioff stated on Tuesday that he was not providing new guidance. He said: "I don't want to be too aggressive in my statements, but I firmly believe our industry will experience a major investment transformation."

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