Salesforce.com delivers $1 billion third quarter revenue

By Brian Karlovsky, ARN |  Cloud Computing, Salesforce.com

Enterprise Cloud computing company Salesforce.com has recorded third quarter revenue of $1.08 billion in its latest quarterly results.

The revenue figure was an increase of 36 per cent compared to the previous year and was helped by the acquisition of ExactTarget, which closed in July 2013.

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The company posted a $124 million net loss for the quarter, compared with a loss of $220 million for the previous year.

Subscription and support revenues were $1 billion, an increase of 36 per cent year-on-year, while professional services and other revenues were $72 million, an increase of 50 per year-on-year.

Revenue for the company's fourth fiscal quarter is projected to be in the range of $1.124 billion to $1.129 billion, an increase of 35 per cent year-on-year.

Revenue for the company's full fiscal year 2014 is projected to be in the range of $4.05 billion to $4.055 billion, an increase of 33 per cent year-on-year.

GAAP net loss per share is expected to be in the range of ($0.45) to ($0.44) while diluted non-GAAP EPS is expected to be in the range of $0.33 to $0.34.

Salesforce.com chairman and CEO Marc Benioff said it was the first enterprise cloud computing company to deliver a $1 billion quarter, with outstanding third quarter revenue growth of 36 per cent.

"Given the strong customer response to our next generation social and mobile cloud technologies, I'm delighted to announce that we expect to deliver our first $5 billion year during our fiscal year 2015," he said.

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Originally published on ARN |  Click here to read the original story.
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