Salesforce CEO Marc Benioff told CNBC's Jim Cramer what contributed to his company's better-than-expected Wednesday earnings report, highlighting his cloud data business and artificial intelligence product Einstein GPT.
Benioff said Salesforce added a thousand new Data Cloud customers over the quarter and called that business "the cherry at the top of the cake." The company's Data Cloud revenue was up 22% from the previous year. According to Benioff, companies are realizing they need proper data management to effectively bring AI into their businesses.
Join Cramer for the Investing Club's Morning Meeting at 10:30 a.m. ET, when director of portfolio analysis Jeff Marks and Jim dig into the numbers and the interview.
"You're not going to go AI in your enterprise until you get your data together," Benioff said. "You're not just using the Reddit data or the internet data the way Chat GPT is, you know. For your enterprise, you have to get your data together, and that's why Salesforce Data Cloud is so important, and it's why we did those thousand Data Cloud deals in the quarter."
Salesforce reported $2.11 earnings per share, adjusted, compared with the $2.06 expected by LSEG. The company's revenue increased 11% from the previous year, jumping from $7.84 billion to $8.72 billion.
During the OpenAI shakeup earlier in November, Benioff offered jobs to employees threating to leave the enterprise. He said on Wednesday Salesforce is "aggressively" continuing to recruit AI engineers.
Sign up now for the CNBC Investing Club to follow Jim Cramer's every move in the market.
Disclaimer The CNBC Investing Club Charitable Trust holds shares of Salesforce.
Questions for Cramer?
Call Cramer: 1-800-743-CNBC
Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram
Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com