Salesforce pulled out all the stops to convince investors that the AI revolution won’t be its death when it announced fourth-quarter earnings on Wednesday.
Salesforce reported a solid quarter of $10.7 billion in revenue, up 13% year-over-year. For the year, it reported $41.5 billion in revenue, up 10% over the previous year, with both results boosted by its $8 billion acquisition of data management company Informatica last May.
Net income landed at $7.46 billion, and the company offered strong guidance for the year ahead, projecting revenue of $45.8 billion to $46.2 billion — a 10% to 11% increase. It also said its “remaining performance obligation,” or RPO, is over $72 billion. That’s a figure that shows revenue under contact that has not yet been delivered or recognized as earned revenue.
The numbers, though, could only do so much. Software-as-a-service stocks, with Salesforce as their poster child, have been getting hammered lately. Investors fear the rise of AI agents will undermine these companies, making their per-employee-seat business models obsolete. The situation has been dubbed the “SaaSpocalypse.”
The concept hung so heavily in the air during the earnings call that CEO Marc Benioff mentioned the term at least six times.
“You’ve heard about the SaaSpocalypse? And it isn’t our first. We’ve had a few of them,” he said, later adding, “If there is a SaaSpocalypse, it may be eaten by the Sasquatch because there are a lot of companies using a lot of SaaS because it just got better with agents.”
In an attempt to convince the world of its continued health, Salesforce threw everything and the kitchen sink into this earnings report. The company increased its dividend by nearly 6% to $0.44 per share. It launched a new $50 billion share buyback program. That’s always a favorite with shareholders because it both creates a sturdy buyer of shares and reduces the number of shares in circulation (which can boost the stock price).
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The company also revamped the earnings call itself. It was part podcast, part infomercial, and part normal Q&A with a few questions from Wall Street analysts.
Instead of running through the numbers, Benioff interviewed three Salesforce customers on camera to testify to their love of its new agentic options: the CEO of home appliance company SharkNinja; the CEO of Wyndham Hotels and Resorts; and, just to hammer the point, the CEO of SaaStr, the software industry conference and media company. We’ll truncate the interviews to the shortest summary: They all love Salesforce’s AI agent products.
Salesforce also introduced a new metric for its agentic products: agentic work units (“AWU”). The idea here is that rather than simply counting “tokens” — the standard unit of AI processing volume — AWU attempts to measure something more meaningful: whether an agent actually completed a task, like writing to a record, rather than just generating text. (Salesforce logged 19 trillion tokens last quarter, which sounds like a lot but really is not in the AI world.)
“You can ask it a question and it can write you a poem, but that’s not really all that valuable in the enterprise world,” Salesforce president and CMO Patrick Stokes said on the call. So AWU is intended to measure when the agent writes to a record or does some other verifiable task.
On top of that, Salesforce also presented its own architectural vision of the coming world of agents. It shows SaaS software like itself owning most of the tech stack, with the AI model makers on the bottom as unseen, interchangeable, and commoditized work engines.
This was a direct counter to one of the causes of a SaaSpocalypse sell-off earlier this month, after OpenAI released its enterprise agent, Frontier. OpenAI’s architectural vision shows OpenAI owning most of the stack, with systems-of-record SaaS providers (the databases and business-software platforms where companies store their core data) on the bottom as the unseen engines.
And if all that wasn’t enough to influence investors: Benioff was dressed in a black leather jacket, echoing the signature look of the CEO clearly crushing it in the AI world: Nvidia’s Jensen Huang.
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![Who is John Ternus, the incoming Apple CEO? | TechCrunch
After 15 years, Tim Cook will hand off the Apple CEO role to John Ternus, the company’s senior vice president of hardware engineering. Starting on September 1, Ternus will lead one of the world’s most valuable companies, but if you’re not a dedicated Apple enthusiast, you’ve probably never heard of this man, who has largely remained out of the spotlight until now.
How long has John Ternus worked at Apple?
Ternus has worked at Apple for nearly half of his life — now 51 years old, he has been with the company for 25 years.
He joined Apple’s product design team in 2001 as only his second job out of college (his first was at a small maker of virtual-reality devices called Virtual Research Systems). By 2013, Ternus was a VP of hardware engineering and was promoted to the SVP role in 2021.
Ternus — who is 15 years younger than Cook — was among the youngest of top Apple executives who had been rumored as a possible successor, implying that Apple could be looking for someone to lead the company for a long time. After all, Apple has only had two CEOs in this millennium, so it seems that leadership continuity is important to the company.
Ternus reports to Cook, who he considers a mentor, and leads all of hardware engineering at Apple. That’s a pretty big deal for a company that’s known for ubiquitous hardware like the iPhone and the MacBook.
In his 2024 commencement speech at his alma mater, the University of Pennsylvania’s engineering school, Ternus reflected on the lessons he learned at Apple, which perhaps can tell us a bit about his character — or at least a sanitized version of it.
“Always assume you’re as smart as anyone else in the room, but never assume that you know as much as they do,” Ternus said in the speech. “With this mindset, you’ll find the confidence you need to push forward, but more importantly, the humility to ask questions.”
Techcrunch event
San Francisco, CA
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October 13-15, 2026
In a tech ecosystem populated with abrasive egos, it’s refreshing to hear Ternus utter the word “humility.” Better yet, he doesn’t appear to have an X account.
Image Credits:Apple
What projects did John Ternus lead at Apple?
Ternus’ earliest project at Apple involved scrutinizing parts for the Apple Cinema Display, an early desktop monitor.
“At some point in my first year, I found myself at a supplier facility. I was far away from home. Well past midnight, I was using a magnifying glass to count the number of grooves on the head of a screw … and I was arguing with the supplier because these parts had 35 grooves. They were supposed to have 25,” Ternus recalled in his commencement speech. “I distinctly remember stepping back for a minute and thinking, ‘What the hell am I doing? Is this normal?’”
As Ternus climbed the corporate ladder, his responsibilities grew. He may no longer spend as much time analyzing screws, but he still seems to take pride in getting the little details right. In a recent interview, when Ternus was asked about his favorite memory of Steve Jobs, he mentioned the former Apple co-founder’s attention to craftsmanship.
“[Jobs] was moving a piece of furniture, a chest of drawers, and pulled it away from the wall and looked at the back and was just reflecting on, you know, that the carpenter who made it had made it beautiful,” Ternus said. “It finished the back as beautifully as the rest of it, even though nobody was going to see it, right? And I think about that all the time because I think that perfectly exemplifies what we do here.”
From there, he went on to lead the hardware development behind products across the Apple ecosystem, overseeing launches like AirPods, Apple Watch, and the Vision Pro. He also had a hand in major technical upgrades at Apple, like Apple’s transition from Intel chips to its own proprietary Apple silicon.
Most recently, Ternus was involved in the production of the MacBook Neo, Apple’s new, more affordable laptop model that lowers costs through some clever trade-offs in hardware design, like using an iPhone chip to power the device.
“We never want to ship junk. We want to ship great products that have that Apple experience, that Apple quality. To do that with the Neo required building something completely new from the ground up … leveraging both the technologies we’d been developing like Apple silicon, but also the kind of expertise that we’ve developed over many, many years of building Macs, and building phones, and building iPads, and all of these things,” Ternus told Tom’s Guide.
As CEO, Ternus will have to steer Apple through its challenge to catch up in the AI race and figure out what to do with the underlying tech behind the Vision Pro.
What else do we know about John Ternus?
Ternus was on the swim team at Penn. For his senior project, he built a feeding arm that people with quadriplegia could control with head movements.
According to public records of political donations, Ternus donated ,900 to Senator Chuck Schumer (D-NY) in 2021.
Otherwise, Ternus has maintained a relatively low profile.
#John #Ternus #incoming #Apple #CEO #TechCrunchApple,ceo,John Ternus,Tim Cook](https://techcrunch.com/wp-content/uploads/2026/04/Apple-John-Ternus-Tim-Cook_Full-Bleed-Image.jpg.xlarge_2x.jpg?w=680 "Who is John Ternus, the incoming Apple CEO? | TechCrunch
After 15 years, Tim Cook will hand off the Apple CEO role to John Ternus, the company’s senior vice president of hardware engineering. Starting on September 1, Ternus will lead one of the world’s most valuable companies, but if you’re not a dedicated Apple enthusiast, you’ve probably never heard of this man, who has largely remained out of the spotlight until now.
How long has John Ternus worked at Apple?
Ternus has worked at Apple for nearly half of his life — now 51 years old, he has been with the company for 25 years.
He joined Apple’s product design team in 2001 as only his second job out of college (his first was at a small maker of virtual-reality devices called Virtual Research Systems). By 2013, Ternus was a VP of hardware engineering and was promoted to the SVP role in 2021.
Ternus — who is 15 years younger than Cook — was among the youngest of top Apple executives who had been rumored as a possible successor, implying that Apple could be looking for someone to lead the company for a long time. After all, Apple has only had two CEOs in this millennium, so it seems that leadership continuity is important to the company.
Ternus reports to Cook, who he considers a mentor, and leads all of hardware engineering at Apple. That’s a pretty big deal for a company that’s known for ubiquitous hardware like the iPhone and the MacBook.
In his 2024 commencement speech at his alma mater, the University of Pennsylvania’s engineering school, Ternus reflected on the lessons he learned at Apple, which perhaps can tell us a bit about his character — or at least a sanitized version of it.
“Always assume you’re as smart as anyone else in the room, but never assume that you know as much as they do,” Ternus said in the speech. “With this mindset, you’ll find the confidence you need to push forward, but more importantly, the humility to ask questions.”
Techcrunch event
San Francisco, CA
|
October 13-15, 2026
In a tech ecosystem populated with abrasive egos, it’s refreshing to hear Ternus utter the word “humility.” Better yet, he doesn’t appear to have an X account.
Image Credits:Apple
What projects did John Ternus lead at Apple?
Ternus’ earliest project at Apple involved scrutinizing parts for the Apple Cinema Display, an early desktop monitor.
“At some point in my first year, I found myself at a supplier facility. I was far away from home. Well past midnight, I was using a magnifying glass to count the number of grooves on the head of a screw … and I was arguing with the supplier because these parts had 35 grooves. They were supposed to have 25,” Ternus recalled in his commencement speech. “I distinctly remember stepping back for a minute and thinking, ‘What the hell am I doing? Is this normal?’”
As Ternus climbed the corporate ladder, his responsibilities grew. He may no longer spend as much time analyzing screws, but he still seems to take pride in getting the little details right. In a recent interview, when Ternus was asked about his favorite memory of Steve Jobs, he mentioned the former Apple co-founder’s attention to craftsmanship.
“[Jobs] was moving a piece of furniture, a chest of drawers, and pulled it away from the wall and looked at the back and was just reflecting on, you know, that the carpenter who made it had made it beautiful,” Ternus said. “It finished the back as beautifully as the rest of it, even though nobody was going to see it, right? And I think about that all the time because I think that perfectly exemplifies what we do here.”
From there, he went on to lead the hardware development behind products across the Apple ecosystem, overseeing launches like AirPods, Apple Watch, and the Vision Pro. He also had a hand in major technical upgrades at Apple, like Apple’s transition from Intel chips to its own proprietary Apple silicon.
Most recently, Ternus was involved in the production of the MacBook Neo, Apple’s new, more affordable laptop model that lowers costs through some clever trade-offs in hardware design, like using an iPhone chip to power the device.
“We never want to ship junk. We want to ship great products that have that Apple experience, that Apple quality. To do that with the Neo required building something completely new from the ground up … leveraging both the technologies we’d been developing like Apple silicon, but also the kind of expertise that we’ve developed over many, many years of building Macs, and building phones, and building iPads, and all of these things,” Ternus told Tom’s Guide.
As CEO, Ternus will have to steer Apple through its challenge to catch up in the AI race and figure out what to do with the underlying tech behind the Vision Pro.
What else do we know about John Ternus?
Ternus was on the swim team at Penn. For his senior project, he built a feeding arm that people with quadriplegia could control with head movements.
According to public records of political donations, Ternus donated ,900 to Senator Chuck Schumer (D-NY) in 2021.
Otherwise, Ternus has maintained a relatively low profile.
#John #Ternus #incoming #Apple #CEO #TechCrunchApple,ceo,John Ternus,Tim Cook")
![Who is John Ternus, the incoming Apple CEO? | TechCrunch
After 15 years, Tim Cook will hand off the Apple CEO role to John Ternus, the company’s senior vice president of hardware engineering. Starting on September 1, Ternus will lead one of the world’s most valuable companies, but if you’re not a dedicated Apple enthusiast, you’ve probably never heard of this man, who has largely remained out of the spotlight until now.
How long has John Ternus worked at Apple?
Ternus has worked at Apple for nearly half of his life — now 51 years old, he has been with the company for 25 years.
He joined Apple’s product design team in 2001 as only his second job out of college (his first was at a small maker of virtual-reality devices called Virtual Research Systems). By 2013, Ternus was a VP of hardware engineering and was promoted to the SVP role in 2021.
Ternus — who is 15 years younger than Cook — was among the youngest of top Apple executives who had been rumored as a possible successor, implying that Apple could be looking for someone to lead the company for a long time. After all, Apple has only had two CEOs in this millennium, so it seems that leadership continuity is important to the company.
Ternus reports to Cook, who he considers a mentor, and leads all of hardware engineering at Apple. That’s a pretty big deal for a company that’s known for ubiquitous hardware like the iPhone and the MacBook.
In his 2024 commencement speech at his alma mater, the University of Pennsylvania’s engineering school, Ternus reflected on the lessons he learned at Apple, which perhaps can tell us a bit about his character — or at least a sanitized version of it.
“Always assume you’re as smart as anyone else in the room, but never assume that you know as much as they do,” Ternus said in the speech. “With this mindset, you’ll find the confidence you need to push forward, but more importantly, the humility to ask questions.”
Techcrunch event
San Francisco, CA
|
October 13-15, 2026
In a tech ecosystem populated with abrasive egos, it’s refreshing to hear Ternus utter the word “humility.” Better yet, he doesn’t appear to have an X account.
Image Credits:Apple
What projects did John Ternus lead at Apple?
Ternus’ earliest project at Apple involved scrutinizing parts for the Apple Cinema Display, an early desktop monitor.
“At some point in my first year, I found myself at a supplier facility. I was far away from home. Well past midnight, I was using a magnifying glass to count the number of grooves on the head of a screw … and I was arguing with the supplier because these parts had 35 grooves. They were supposed to have 25,” Ternus recalled in his commencement speech. “I distinctly remember stepping back for a minute and thinking, ‘What the hell am I doing? Is this normal?’”
As Ternus climbed the corporate ladder, his responsibilities grew. He may no longer spend as much time analyzing screws, but he still seems to take pride in getting the little details right. In a recent interview, when Ternus was asked about his favorite memory of Steve Jobs, he mentioned the former Apple co-founder’s attention to craftsmanship.
“[Jobs] was moving a piece of furniture, a chest of drawers, and pulled it away from the wall and looked at the back and was just reflecting on, you know, that the carpenter who made it had made it beautiful,” Ternus said. “It finished the back as beautifully as the rest of it, even though nobody was going to see it, right? And I think about that all the time because I think that perfectly exemplifies what we do here.”
From there, he went on to lead the hardware development behind products across the Apple ecosystem, overseeing launches like AirPods, Apple Watch, and the Vision Pro. He also had a hand in major technical upgrades at Apple, like Apple’s transition from Intel chips to its own proprietary Apple silicon.
Most recently, Ternus was involved in the production of the MacBook Neo, Apple’s new, more affordable laptop model that lowers costs through some clever trade-offs in hardware design, like using an iPhone chip to power the device.
“We never want to ship junk. We want to ship great products that have that Apple experience, that Apple quality. To do that with the Neo required building something completely new from the ground up … leveraging both the technologies we’d been developing like Apple silicon, but also the kind of expertise that we’ve developed over many, many years of building Macs, and building phones, and building iPads, and all of these things,” Ternus told Tom’s Guide.
As CEO, Ternus will have to steer Apple through its challenge to catch up in the AI race and figure out what to do with the underlying tech behind the Vision Pro.
What else do we know about John Ternus?
Ternus was on the swim team at Penn. For his senior project, he built a feeding arm that people with quadriplegia could control with head movements.
According to public records of political donations, Ternus donated ,900 to Senator Chuck Schumer (D-NY) in 2021.
Otherwise, Ternus has maintained a relatively low profile.
#John #Ternus #incoming #Apple #CEO #TechCrunchApple,ceo,John Ternus,Tim Cook](https://i2.wp.com/techcrunch.com/wp-content/uploads/2026/04/Apple-John-Ternus-Tim-Cook_Full-Bleed-Image.jpg.xlarge_2x.jpg?w=680&ssl=1 "Who is John Ternus, the incoming Apple CEO? | TechCrunch
After 15 years, Tim Cook will hand off the Apple CEO role to John Ternus, the company’s senior vice president of hardware engineering. Starting on September 1, Ternus will lead one of the world’s most valuable companies, but if you’re not a dedicated Apple enthusiast, you’ve probably never heard of this man, who has largely remained out of the spotlight until now.
How long has John Ternus worked at Apple?
Ternus has worked at Apple for nearly half of his life — now 51 years old, he has been with the company for 25 years.
He joined Apple’s product design team in 2001 as only his second job out of college (his first was at a small maker of virtual-reality devices called Virtual Research Systems). By 2013, Ternus was a VP of hardware engineering and was promoted to the SVP role in 2021.
Ternus — who is 15 years younger than Cook — was among the youngest of top Apple executives who had been rumored as a possible successor, implying that Apple could be looking for someone to lead the company for a long time. After all, Apple has only had two CEOs in this millennium, so it seems that leadership continuity is important to the company.
Ternus reports to Cook, who he considers a mentor, and leads all of hardware engineering at Apple. That’s a pretty big deal for a company that’s known for ubiquitous hardware like the iPhone and the MacBook.
In his 2024 commencement speech at his alma mater, the University of Pennsylvania’s engineering school, Ternus reflected on the lessons he learned at Apple, which perhaps can tell us a bit about his character — or at least a sanitized version of it.
“Always assume you’re as smart as anyone else in the room, but never assume that you know as much as they do,” Ternus said in the speech. “With this mindset, you’ll find the confidence you need to push forward, but more importantly, the humility to ask questions.”
Techcrunch event
San Francisco, CA
|
October 13-15, 2026
In a tech ecosystem populated with abrasive egos, it’s refreshing to hear Ternus utter the word “humility.” Better yet, he doesn’t appear to have an X account.
Image Credits:Apple
What projects did John Ternus lead at Apple?
Ternus’ earliest project at Apple involved scrutinizing parts for the Apple Cinema Display, an early desktop monitor.
“At some point in my first year, I found myself at a supplier facility. I was far away from home. Well past midnight, I was using a magnifying glass to count the number of grooves on the head of a screw … and I was arguing with the supplier because these parts had 35 grooves. They were supposed to have 25,” Ternus recalled in his commencement speech. “I distinctly remember stepping back for a minute and thinking, ‘What the hell am I doing? Is this normal?’”
As Ternus climbed the corporate ladder, his responsibilities grew. He may no longer spend as much time analyzing screws, but he still seems to take pride in getting the little details right. In a recent interview, when Ternus was asked about his favorite memory of Steve Jobs, he mentioned the former Apple co-founder’s attention to craftsmanship.
“[Jobs] was moving a piece of furniture, a chest of drawers, and pulled it away from the wall and looked at the back and was just reflecting on, you know, that the carpenter who made it had made it beautiful,” Ternus said. “It finished the back as beautifully as the rest of it, even though nobody was going to see it, right? And I think about that all the time because I think that perfectly exemplifies what we do here.”
From there, he went on to lead the hardware development behind products across the Apple ecosystem, overseeing launches like AirPods, Apple Watch, and the Vision Pro. He also had a hand in major technical upgrades at Apple, like Apple’s transition from Intel chips to its own proprietary Apple silicon.
Most recently, Ternus was involved in the production of the MacBook Neo, Apple’s new, more affordable laptop model that lowers costs through some clever trade-offs in hardware design, like using an iPhone chip to power the device.
“We never want to ship junk. We want to ship great products that have that Apple experience, that Apple quality. To do that with the Neo required building something completely new from the ground up … leveraging both the technologies we’d been developing like Apple silicon, but also the kind of expertise that we’ve developed over many, many years of building Macs, and building phones, and building iPads, and all of these things,” Ternus told Tom’s Guide.
As CEO, Ternus will have to steer Apple through its challenge to catch up in the AI race and figure out what to do with the underlying tech behind the Vision Pro.
What else do we know about John Ternus?
Ternus was on the swim team at Penn. For his senior project, he built a feeding arm that people with quadriplegia could control with head movements.
According to public records of political donations, Ternus donated ,900 to Senator Chuck Schumer (D-NY) in 2021.
Otherwise, Ternus has maintained a relatively low profile.
#John #Ternus #incoming #Apple #CEO #TechCrunchApple,ceo,John Ternus,Tim Cook")
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