Salesforce

‘s

CRM

third-quarter fiscal 2021 results are likely to benefit from increased adoption of the company’s cloud-based solutions. The results are scheduled for a Dec 1 release.

The company is likely to have gained from a robust demand environment, with customers having undergone a major digital transformation. Notably, digitization has been strengthening the company’s strategic relationships. Its ability to provide an integrated solution for customers’ business problems is the key driver.

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to know how the company’s overall third-quarter results are likely to be.

Higher Cloud Adoption: A Key Driver

Salesforce’s diverse cloud offerings are likely to have helped expand its clientele, fueling top-line growth. The rapid adoption of the SaaS-based Salesforce platform highlighted solid demand for the company’s cloud-based solutions.

Further, enhancement of customer experience is likely to have aided the cloud segment. The company’s focus on AI and substantial progress with the launch of Einstein Analytics makes us optimistic about its upcoming quarterly results.

Moreover, the launch of Customer 360 Truth that helps connect all the data from across sales, service, marketing, commerce and build a single Salesforce ID for each customer is likely to have boosted its performance.

Additionally, the company’s initiatives to capitalize on overseas demand for cloud-based applications are likely to have bolstered the top line.

Significantly, Salesforce’s focus on building partnerships has not only helped it grab new deals but also expanded the firm’s operations internationally, which in turn, is expected to have driven top-line growth.

Partnership agreements with the likes of

Alphabet


GOOGL

,

Amazon


AMZN

,

Microsoft


MSFT

, International Business Machines, Apple, HP, Dell and others for the firms’ cloud services are likely to have aided its performance as well during the fiscal third quarter.

Salesforce currently carries a Zacks Rank #3 (Hold). You can see


the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here


.

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