Salesforce.com shows strength in first quarter
Company raises outlook for the the next three months and fiscal year and issues better-than-expected results.
Salesforce.com reported better-than-expected first-quarter results and raised its outlook for the next three months and fiscal year. Growth for the company is accelerating, and it's on track for a $2 billion revenue run rate.
The company broke even in its first quarter on revenue of $504 million, up 34 percent from a year ago. Non-GAAP earnings were 28 cents a share. Wall Street was expecting earnings of 27 cents a share on revenue of $482.5 million.
As for the outlook, Salesforce.com said second-quarter revenue would be between $526 million and $528 million. Non-GAAP earnings will be 29 cents a share to 30 cents a share. Net loss will be about a penny a share. Wall Street was looking for earnings of 26 cents a share on $506 million.
Read more of "Salesforce.com growth accelerates; fiscal 2012 outlook raised" at ZDNet's Between the Lines.