Salesforce Beats Street, Turns in Record Revenue Report
The company passed the $3 billion revenue mark for the year and has the $4 billion milestone in sight.Salesforce.com had plenty of good news to tell the markets Feb. 28 when it reported its fourth-quarter and fiscal-year earnings numbers and became a $3 billion company. The giant cloud-service provider revealed that sales for its fiscal 2013 fourth quarter reached $834.68 million, up from $631.91 million a year earlier. The 32 percent jump is one of the highest top-line growth rates in all of U.S enterprises. This financial performance easily cruised past Wall Street sales estimates of $831 million and helped send the stock up nearly 5 percent after the market close. Shares of Salesforce.com ended the regular session Feb. 28 at $169.22 before rising to $177 in after-hours trading. For its fiscal 2013, the company reported revenue of $3.05 billion, an increase of 35 percent from the previous year.
Excluding items such as a one-time tax charge, Salesforce reported a fourth-quarter per-share profit of 51 cents, 11 cents better than what analysts had expected. The San Francisco-based cloud CRM and Web services provider reported a per-share profit of 43 cents a year earlier.