Cloud Capital: Intuit, NetApp Rundown Earnings… VMware is Up Next + Salesforce Pushes Platform
But too often, the conversation about digital transformations focus on the technology and leaves out a key ingredient to a winning strategy – attracting and retaining the best talent.
In this episode of "Cloud Capital", Intuit grows revenues at a steady clip, NetApp sees huge opportunities in digital transformations, and Salesforce makes it easier for customers to easily identify consulting experts. Plus, Cisco unveils ambitious plans to create jobs in Africa and SAP earns another win with its SuccessFactors solutions.
In earnings news, Intuit (INTU) grew total revenues in the third quarter 12% to $3.3 billion, an increase of 12 percent. The company expects top-line growth in the fourth quarter will be in a similar 10 to 12 % range.
"This was a strong quarter across the company" said Sasan Goodarzi, Intuit's CEO. "We are on-track to exceed the guidance we provided at the beginning of the year."
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Intuit's products and platforms includes Turbo Tax, Quick Books, Mint and Turbo. These are all tools designed to empower consumers, self-employed and small businesses to improve financial control. The company's innovative ecosystem of financial management solutions serves approximately 50 million customers worldwide.
"We continue to see momentum in our Small Business and Self-Employed Group driven by Online Ecosystem revenue growth" added Goodarzi. "We're making progress in solving key customer pain points and becoming the center of small business growth around the globe."
Meanwhile, Sunnyvale, California-based NetApp (NTAP) reported product revenues for its fiscal year 2019 grew 7% year-over-year. Net income was $396 million, compared to $290 million in the fourth quarter of fiscal 2018.
"Despite the modest shortfall relative to our fiscal year 2019 expectations, we made significant progress in the strategic markets of all-flash, private cloud, and cloud data services" said George Kurian, company CEO. "Our Data Fabric strategy clearly differentiates us from our competitors."
Going forward, NetApp expects net revenues to grow at the low-end of mid-single-digit range.
Analysts have also marking this one on their earnings calendar: VMware (VMW), will announce fiscal year 2020 first quarter financial results after market close on Thursday, May 30.
Salesforce (CRM) has launched new insights on its AppExchange enterprise cloud marketplace. This enable customers to easily identify the consulting experts and business solutions best suited for their needs, and empower partners with customer engagement analytics to more effectively build and market their solutions.
AppExchange is home to more than 5,000 technology solutions ranging from apps, components, pre-built flows, industry-specific Bolt templates, data and more. In addition, there are more than 65,000 Salesforce-accredited consulting professionals who provide guidance on how to drive business transformation with Salesforce—and Salesforce aims to increase that number to more than 250,000 by 2022.
"As the Salesforce economy and customer demand continue to grow, our customers and partners must have the right business solutions and technology experts at their fingertips,"
Salesforce grabbed more headlines this week when it announced that its global corporate investment group has launched a $125 million Europe Trailblazer Fund to continue to fuel enterprise cloud startups. The Corporate VC has invested in European companies pioneering digital payments, machine vision, artificial intelligence, blockchain and the API economy.
"Europe is a clear leader in cloud technology today, and we are excited to deepen our investment in the region" said John Somorjai, EVP at Salesforce. "Our commitment to European startups reflects the growth of innovation, our belief in the local entrepreneurs and our focus on creating the world's largest ecosystem of enterprise cloud companies to drive customer success."
In other news, Cisco (CSCO) announced plans to train one million tech-minded African by 2025 with its Networking Academy. The aim is to work with selected distributors who will repair and restore Cisco hardware and make high quality, refurbished technology accessible, especially for small and medium sized organizations. By investing in repair centers in Africa, Cisco intends to contribute to job creation, skills development, fighting counterfeiting and promoting Cisco's Authorised Channel.
SAP (SAP) is always in the news. This week, Eversheds Sutherland Ltd announced its plans to implement cloud-based SAP SuccessFactors solutions for human capital management to help increase efficiency and streamline operations for its International organization offices. The SAP SuccessFactors Employee Central solution has been rolled out to approximately 3,000 employees throughout the United Kingdom, France, Luxembourg, Middle East and Asia.
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Disclaimer: The blurbs highlighted on "Cloud Capital" are available for information purposes only, and don't necessarily reflect opinions of our editors.
Page Updated Last on: Jun 30, 2019