Executive Summary

On November 20, 2019, Salesforce held its annual investor meeting in conjunction with its annual Dreamforce conference.

• Salesforce raised FY20 revenue guidance to $16.99–$17.00 billion from $16.75–$16.90 billion previously and offered solid targets for FY21 and goals for FY24.
• Global market growth drivers include a rising digital share of GDP and increasing spending on digital transformation.
• Salesforce’s growth strategy is based on growth among enterprises (including “land and expand” to increase sales to enterprises) and in new geographies and verticals.
• The company will supplement organic innovation with acquisitions to gain technology and talent, market adjacencies and to enter new markets.
• Salesforce has built a customer base that offers high persistence in recurring revenue and the company anticipates higher adjusted operating margins in FY21.