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Jim Cramer remembers when Salesforce.com blew away the numbers last year and reported a fabulous quarter, only see its stock quickly jump and then plummet, ultimately falling to $62 from $66. That marked the beginning a six-month hammering of cloud stocks.
Salesforce.com reported again on Wednesday, and this time the stock has managed to make a comeback. Cramer was delighted to see strong results, with in-line earnings and higher-than-expected revenues, up 26 percent year-over-year.
The company also provided strong guidance for 2016, which could take the stock even higher. For the fiscal year, Salesforce was the fastest enterprise software company to reach $5 billion in revenue, and Cramer wouldn't be surprised to see that it is the fastest to $10 billion in the next few years.
Has Salesforce found creative ways to reach markets it wasn't previously able to penetrate that could explain the robust growth? To find out, Cramer spoke with CEO Marc Benioff.
"The European numbers are way beyond anybody's expectation. You can see that some of our largest deals for the quarter came out of Europe, " Benioff said.
The CEO explained that the company has had several breakthroughs in the retail industry. Salesforce recently worked with Home Depot to institute a new model of customer service using their product.
Benioff added that Home Depot had a unique vision for its physical stores, in that it tried to meld aspects of the website and the in-store experience. Basically, it assessed all of the touchpoints for its customers and had a vision of those points working together.
"Salesforce has built that in concert with them, and we have delivered a beautiful system for them so that those store employees, contractors and consumers all can share and collaborate on one system," Benioff said.
"If you walk into any Louis Vuitton store today, you'll find that the retail agent is going to walk up to you and know right away who you are, what you're doing, what's going on, right on their phone. Salesforce is making that possible, that's called clienteling."
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As for the future of Salesforce, Benioff speculated that the company would be growing even faster if it weren't for currency headwinds. However, he is confident that it will still achieve staggering growth in the year ahead.
"We just finished an unbelievable fiscal year, with 32 percent growth. We are the fastest to $5 billion for software. It's unbelievable. But our guidance is that, next year, we will be the fastest to $6 billion."