Salesforce.com hits quarterly earnings target

Salesforce.com hits quarterly earnings target

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

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TOPICS: Tech Industry
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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.

Topic: Tech Industry

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