Salesforce is part of a growing number of tech companies addressing the potential impact of Brexit, a move that could add significant uncertainty to businesses in Europe. Although British lawmakers are once again expected to vote to delay Brexit, which is scheduled for later this month, more investors are asking about its future risk.
In the past three months, 93 earnings calls of the S&P 500 companies addressed Brexit and its potential impact, according to FactSet. Among those are some of the largest companies, including Facebook, Cisco and Walmart.
While most companies were cautious with their answers, sharing very little detail, some companies were more upfront about it.
Expedia, for example, said it's seen a drop-off in U.K flight bookings due to "uncertainty around Brexit." Booking Holdings, the owner of a group of travel sites including Priceline.com, also said Brexit is creating a "tremendous amount of uncertainty."
Facebook's CFO David Wehner also said during January's earnings call that macroeconomic concerns, like Brexit, are a "risk on top of other issues" facing the company.
Other companies tried to play down Brexit's effect on its business. HPE CEO Antonio Neri said demand was "very steady" throughout the quarter, highlighting double-digit sales growth in the U.K. Walmart's CEO Doug McMillon said he's "impressed" with his U.K. team's performance, while Cisco CEO Chuck Robbins said he's been "amazed at the resilience" he's seen from employees around the world.
It's unclear why Salesforce decided to share more details about Brexit's potential impact. The company generates less 20 percent of revenue from the European region, a smaller share than companies like Facebook or Cisco, who get about a quarter of their sales from Europe. Salesforce's representative wasn't immediately available for comment.
Still, Salesforce said it's already "evaluated and started to implement initiatives," as it sees "significant uncertainties" arising from Brexit's outcome.
"We recognize that there are still significant uncertainties surrounding the ultimate resolution of Brexit negotiations, and we will continue to monitor any changes that may arise and assess their potential impact on our business," Salesforce said in the filing.
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