After Salesforce posted its first revenue miss since 2006, CEO Marc Benioff told CNBC's Jim Cramer how the market for enterprise software companies has changed since the pandemic.
"You can't control the buying environment. The reality is, you're going to have heterogeneous buying environments, it's going to happen," Benioff said."You can't control the buying environment. The reality is, you're going to have heterogeneous buying environments, it's going to happen," Benioff said.
Benioff said that during the pandemic, companies"aggressively" bought enterprise software. And they've worked to"absorb a lot of the technology that they've put in" while, at the same time, there's a huge artificial intelligence boom occurring. He suggested that"those things have to be rationalized for these companies."
However, Benioff said he's pleased with Salesforce's cash flow and margins, as well as what its products can do for customers like"It's been a complete financial transformation," Benioff said."But, not only that, it's also a complete transformation of the product line for customers, giving them this incredible new capability with artificial intelligence.