Salesforce.com Continues Revenue Surge
The hosted CRM services provider reports that revenues in its fiscal third quarter nearly doubled from year to year, but net income is down. Salesforce.com also has snagged a deal with office-supply retailer Staples.Hosted CRM services provider Salesforce.com reported its fiscal third quarter earnings Wednesday, with revenues nearly doubling from year to year, but with net income down. The San Francisco-based company, reporting quarterly earnings as a public company for only the second time since its June IPO, saw revenues of $46.4 million in the quarter ended Oct. 31, up from $25.4 million in the same period a year ago. Subscription and support revenues climbed from $22.5 million to $41.5 million year-over-year. Click here to read about Salesforce.coms earnings in the previous quarter.
Net income fell, however, from $3.8 million to $2.2 million year-to-year, as expenses jumped across the board, particularly marketing, which climbed from $14.6 million in last years third quarter to $24.9 million in this years.