Salesforce Beats the Street With Boffo Earnings Report
Sales for the CRM giant were up a hefty 31 percent year-over-year.Salesforce turned in an impressive earnings report to the Securities and Exchange Commision on Aug. 29, revealing strong Q2 2013 results and full-year estimates that are flush with Wall Street projections. The cloud-based services provider reported revenue at $957 million, compared to $938.81 million from the same quarter a year ago. Sales were up a hefty 31 percent year-over-year. The San Francisco-based company reported net income of $76.6 million, or 12 cents per share. Analysts were expecting Salesforce to report second-quarter earnings of seven cents a share on revenue of $939.2 million. "Salesforce.com continues to be the fastest growing software company of its size with year-over-year growth of more than 30 percent in revenue, deferred revenue and operating cash flow," CEO and Chairman Marc Benioff said in a statement.
"I'm delighted to announce that just four years after delivering our first $1 billion revenue year, we are now poised to deliver our first $1 billion revenue quarter in the third quarter of fiscal 2014."