"That's my view. They'll cut preemptively in June. That is to say Wednesday," says the Grant's Interest Rate Observer newsletter editor.Economyread more
Sotheby's announced Monday that it's signed an agreement to be acquired by BidFair USA, a venture owned by art collector Patrick Drahi.Marketsread more
Iran will surpass the internationally agreed levels of its low-enriched uranium levels in 10 days, the country's atomic energy body said Monday.Politicsread more
The Fed is not likely to make a move on interest rates when it meets this week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
It's about time to write off high-growth tech stocks, Goldman Sachs warned, saying the double whammy of sky-high valuation and elevated regulation is becoming a "hazard" to...Marketsread more
Ross played down the prospect of an agreement being reached at the G-20 meeting in Osaka on June 28-29.Paris Airshowread more
Boeing is scrambling to restore confidence in the 737 Max from regulators, customers and the flying public.Paris Airshowread more
Google CEO Sundar Pichai said in a CNN interview that while the company will work to remove as much harmful content as possible, the company can't remove 100% of it.Technologyread more
The chipmaker crush could persist and investors should be selective, but Nvidia looks like a clear buy, one market watcher says.Trading Nationread more
In a rare downgrade for the stock, Imperial Capital lowered its rating for Disney to in-line from outperform and maintained its target price of $147.Investingread more
Atlassian is releasing a document that's meant to simplify the negotiation of terms for acquisitions. That way the buyer and seller can focus on more important topics, like...Technologyread more
In an exclusive interview with "Mad Money " host Jim Cramer after earnings, Benioff touted his cloud company's "blowout quarter."
Salesforce beat analysts' earnings estimates by 1 cent and posted higher-than-expected revenue, up 24 percent year over year. The company also raised its quarterly and full-year guidance.
"It was our best quarter we've had in a long time. It's an amazing quarter," the CEO said. "I think that because of this incredible quarter, you're going to see us really have a huge dream of getting to $20 billion faster than any other software company ever."
The $20 billion goal refers to Salesforce's annual run rate, or an estimate of what the company will make in sales for a given year in the future.
In the fourth quarter, Salesforce's deferred revenue — what the software giant earns in advance for goods or services that have not yet been delivered — grew by double digits year over year, making Benioff that much more bullish on the $20 billion prospect.
Salesforce's deferred revenue on the balance sheet grew by 28 percent year over year, while its un-billed, off-balance-sheet deferred revenue grew 48 percent year over year.
Benioff told Cramer that this quarter was boosted by Salesforce signing more million-dollar contracts than ever before.
Much of the strength came from Europe, where Salesforce entered into contracts with major global brands like Adidas and big financial players like Deutsche Bank.
"If you've been to Adidas.com and bought your Yeezy 350s, you know that it's all Salesforce. If you're on Adidas.com, it's Salesforce. If you get an email from Adidas, it's Salesforce," Benioff said. "We're building a single view of the customer for Adidas and that's giving them the ability to sell and connect with their customer in an all-new way."
Banks like Deutsche and the Spanish BBVA use Salesforce's financial services cloud, built specifically for the banking industry, to connect more seamlessly with clients, Benioff said.
For Benioff, who leads one of the world's top customer relationship management companies, there are three distinct components to sustainable growth.
"No. 1 is customer focus," he told Cramer. "The second key thing that you need for sustainable growth is a connection to: who is your community? 'Who are all your key stakeholders' is another way to say it."
Benioff emphasized that Salesforce's stakeholders are more than just their shareholders: they are also its customers, partners and communities.
"Finally, what's your culture?" Benioff said. "What are your values? What is it like to be in your company? What does it feel like to be in your office or at your events? And if you can put those three things together – culture, community and customers – I think you can have a winning success today."