Salesforce quarter on target

Salesforce.com reported fiscal second quarter earnings that were on target with Wall Street estimates.

Salesforce.com reported fiscal second quarter earnings that were on target with Wall Street estimates.

The company on Wednesday reported second quarter earnings (statement) of $9.99 million, or 8 cents a share, on revenue of $263 million, up 49 percent from a year ago. According to Thomson Reuters Salesforce.com was expected to report earnings of 8 cents a share on revenue of $260.5 million.

The company touted that it is now on a $1 billion revenue run rate, 4,100 net paying customers to hit 47,700 and its InStranet acquisition announced earlier.

Salesforce.com also projected third quarter revenue of $273 million to $274 million with earnings between 8 cents a share to 9 cents a share, excluding costs from the InStranet purchase. Including InStranet costs, Salesforce.com projected earnings of 6 cents a share to 7 cents a share for the third quarter. That outlook was roughly in line. Wall Street was expected earnings of 9 cents a share on revenue of $273 million.

For fiscal 2009, Salesforce.com said revenue will bet $1.07 billion to $1.075 billion with earnings between 34 cents a share to 35 cents a share excluding InStranet costs. Including costs, fiscal 2009 earnings will be 29 cents a share to 30 cents a share.

By the numbers for the second quarter:

  • Salesforce.com had 3,046 employees.
  • 72 percent of revenue came from the Americas with 19 percent from Europe. Asia Pacific revenue was 9 percent of the total for the quarter.
  • As of July 31, Salesforce.com had $427 million in cash.

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