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    Salesforce Beats Street, Turns in Record Revenue Report

    By
    Chris Preimesberger
    -
    March 1, 2013
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      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.

      Salesforce projected revenue for the company’s first fiscal quarter of 2014 will range from $882 million to $887 million, an increase of 27 percent to 28 percent year-over-year. Revenue for the company’s full fiscal year is expected to be in the range of $3.82 billion to $3.87 billion, an increase of 25 percent to 27 percent year-over-year.

      “During this fiscal year, we absolutely have that $4 billion revenue run rate in sight, and are very excited about that and definitely our short-term goal on the way to our $10 billion dream,” Chairman and CEO Marc Benioff said on a conference call to analysts.

      Benioff said that in the fourth quarter, Salesforce signed more than 150 new deals worth at least $1 million apiece. Nine transactions were in the eight-figure range, he said.

      Chris Preimesberger
      https://www.eweek.com/author/cpreimesberger/
      Chris J. Preimesberger is Editor Emeritus of eWEEK. In his 16 years and more than 5,000 articles at eWEEK, he distinguished himself in reporting and analysis of the business use of new-gen IT in a variety of sectors, including cloud computing, data center systems, storage, edge systems, security and others. In February 2017 and September 2018, Chris was named among the 250 most influential business journalists in the world (https://richtopia.com/inspirational-people/top-250-business-journalists/) by Richtopia, a UK research firm that used analytics to compile the ranking. He has won several national and regional awards for his work, including a 2011 Folio Award for a profile (https://www.eweek.com/cloud/marc-benioff-trend-seer-and-business-socialist/) of Salesforce founder/CEO Marc Benioff--the only time he has entered the competition. Previously, Chris was a founding editor of both IT Manager's Journal and DevX.com and was managing editor of Software Development magazine. He has been a stringer for the Associated Press since 1983 and resides in Silicon Valley.

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