While markets await a Saudi update, investors are likely asking how the kingdom left itself so vulnerable, and what it means for the future.Energyread more
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
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President Donald Trump signaled Iran is not telling the truth about the drone attacks on Saudi Arabia's largest oil facilities.Oilread more
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Modern corporations have shifted focus to partner with companies that are value-focused, Salesforce's Keith Block said on CNBC Thursday.
That's why Salesforce joined about 200 other businesses to proclaim that pleasing shareholders is no longer their main goal, Block said. The co-CEO was responding to a question from Jim Cramer about how the company is having an "Impact Per Share" — what companies are doing to promote eco-friendly and sustainability initiatives.
On top of catering to shareholders, "it's about stakeholders, it's about your employees, it's about you partners and suppliers. It's about the community, it's about the environment," Block said in a "Mad Money" interview. "When we speak to CEOs all over the world, they want to know what our values are all about. And if they're going to bet their business on us, they want to be aligned with those values."
The Business Roundtable, a group of chief executive officers from major U.S. corporations led by J.P. Morgan Chase's Jamie Dimon, released a statement earlier this week about the "purpose of a corporation," which comes at a time where more and more consumers are care about shopping at mission-driven businesses.
After the market closed Thursday, Salesforce delivered shareholders a beat-and-raise quarter. The company topped earnings and revenue expectations while upping its guidance for the full year, CNBC reported.
Revenue grew 22% to $4 billion in the quarter and the full-year outlook was increased to $16.9 billion, which would equate to 27% year-over-year growth, Block said in the "Mad Money" one-on-one.
"A lot of this, Jim, is really powered by this wave of digital transformation that we're seeing all over the world," he said. "Everybody needs to get closer to the customer, everybody is trying to improve that customer experience, and that's where Salesforce really brings value to the table."
When it comes to tariffs on Chinese imports and services, Salesforce appears to be immune, Cramer said. In response, Block said it's because companies won't stop investing into digitizing their operations.
"That's why you're seeing this growth, you're seeing these results," he said. "And we're just co-innovating and co-creating with these companies and that's why we're having so much success on their behalf."
Shares of Salesforce rose slightly on Thursday ahead of its earnings call. The stock climbed 7% in after hours trading.
*Disclosure: Cramer's charitable trust owns shares of Salesforce.com and J.P. Morgan Chase.