Even fair news in this economy is good news…
Which means that good news becomes GREAT news, if we’re working up a level, right?
Well, the embattled tech world may have just gotten some GREAT news then, as one of the companies under its huge umbrella just put forth some stellar numbers.
What does that mean?
Does it mean that the market isabout to turn around?
Not likely…
Does it mean tech is about to make a big comeback?
Probably not…
But what it does mean is that if you have a solid product and/or service that people want or need – then odds are you won’t be feeling the crunch of an economic downturn…
Regardless of what happens.
So, let’s talk about what happened that has the tech world smiling.
Look, I don’t need to rehash the craptastic year we’ve had so far…
You know how the markets have been – and you know how they’re NOT – but nobody has taken a beating like the tech world.
It has taken a shellacking over the past 6 months…
So, when we hear good news out of the sector – it seems to stand out a little bit.
The good news we got last week came out of Salesforce (CRM) – as the software company recently reported better-than-expected quarterly results.
While this is great for the company…
It’s even better for investors – as the good news sent shares up 17% at one point – which would be great news in almost any market…
But in this market – it’s FANTASTIC!
Salesforce’s cloud products have hit the right chord with businesses – who are transitioning to the work/home hybrid model…
Even as its rivals have seemed to stumble more than find sure footing.
How solid is Salesforce’s footing?
Well, the company made 55% more in subscription revenue from its platforms division (the company’s fastest growing segment) last quarter than the same time last year…
Which is becoming less and less common throughout ALL of Wall Street – but becoming a regular thing for Salesforce.
Can you guess which platform outperforms them all?
If you guessed Slack – then give yourself a pat on the back.
Slack continues to outperform its competitors and even its own products – as the number of customers who spent more than $100,000 on the messaging software grew by more than 40% for the fourth quarter in a row.
That’s INCREDIBLE…
But if that wasn’t enough to prove that the company had a great Q1 – the company also revealed that its total revenue climbed by a better-than-expected 24%.
That’s another big number…
And even bigger once you understand that Salesforce has carried a streak of 20% or GREATER growth since 2016.
That said, this could just be the beginning for a good 2022 for Salesforce…
Somebody needs to have a bright spot, right?
And Salesforce’s future seems bright…
As the company reported that the value of deals customers have signed but not yet closed was up 21% last quarter.
You know what that means…
There’s most likely going to be a lot of 20% or better revenue growth quarters in their future.
How’s THAT for some GREAT news, huh?
It’s good to see that there are still avenues to make money…
Which is why GorillaTrades was created in the first place – to help investors find the best avenue to make money – and over the years we’ve done an incredible job at doing EXACTLY that.
It’s why we’ve become one of the most trusted names in our industry.
We’d love to have you along for our next round of picks – but we understand if you’re one of those who like to blaze their own path…
Just know that the GT system doesn’t use hunches or rumors – we rely on data and real numbers to find only the best recommendations possible.
We’re here when you need us…
But keep your eye on Salesforce – 2022 could be an even bigger year for them than the last!
“Good news is rare these days, and every glittering ounce of it should be cherished and hoarded and worshiped and fondled like a priceless diamond.” – Hunter S. Thompson