Salesforce Impresses With Its Earnings $CRM
Salesforce.com has seen impressive results in its second fiscal quarter earnings report. The better than expected results in both revenue and profits are most likely due to the increase in demand for its web and marketing software. An ecstatic sounding CEO, Marc Benioff said “We are well on our way to accomplishing our goal of being the fastest company ever to $10 billion in revenue,”.
Shares of the company rose by 4 percent post the earning announcement. The world’s biggest maker of online sales software also forecasts current-quarter revenue and adjusted profit above analysts’ average estimates. Salesforce revenue has been rising as businesses opt. for cheaper and easier cloud software services, but higher spending, particularly on sales personnel, has pressed the bottom line.
Salesforce said it now expects a revenue of $6.60 billion-$6.63 billion for the year ending January 2016, up from $6.52 billion-$6.55 billion. The company’s net loss narrowed to $852,000 in the second quarter from $61.1 million a year earlier. On a per share basis, the company posted a loss of 10 cents a year earlier.