CRM is the granddaddy of SaaS and they reported a blowout quarter yesterday. I believe that CRM’s result is pulling up the entire sector today.
I listened to the earnings call. The revenue growth last quarter was 29% and it hasn’t been that high since 2014!! In addition, margins were up. CRM will be spending more to take advantage of opportunities. One noteworthy thing from the call is that CRM said that they were able to take advantage of sales opportunities because of their ability to deliver implementation very quickly for customers desperate to rework their sales processes in light of the pandemic. CRWD shares the capacity to onboard new enterprise customers over a weekend. I’m expecting a very big result for CRWD in a week.
PS: Benioff is a rockstar!