Salesforce.com hits quarterly earnings target

The company has reported its first quarter earnings, which matched Wall Street's expectations

Salesforce.com's first quarter earnings were in line with Wall Street expectations, but the earnings outlook for the current quarter looked light.

Salesforce.com on Thursday reported net income of 13 cents a share on revenue of $376.8m (£260.4m), up 24 percent from a year ago. The company said non-GAAP earnings were 30 cents a share, according to a statement. Wall Street was expecting earnings of 30 cents a share on revenue of $368m.

As for the outlook, Salesforce.com projected second quarter revenue between $381m and $383m. Earnings will be 7 cents a share to 8 cents a share. Non-GAAP earnings will be between 26 cents a share and 27 cents a share and that includes a 3 cents a share hit for the just-closed Jigsaw acquisition. Wall Street was expecting earnings of 31 cents a share on revenue of $375.4m.

For more on this story, see Salesforce.com earnings: First quarter on target, but outlook light on ZDNet.com.

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