Salesforce raised its revenue outlook for fiscal 2017 as part of the company's fourth quarter financial results. The CRM giant now expects revenue to increase 22 percent to between $8.08 billion and $8.12 billion.
Salesforce CEO Marc Benioff called the strong guidance "unprecedented growth for a company of our size and scale." The company's stock jumped seven percent after hours.
As for the rest of Q4, Salesforce reported non-GAAP earnings of 19 cents per share on revenue of $1.81 billion, up 25 percent year-over-year (statement).
Wall Street was looking for earnings of 19 cents per share with revenue of $1.79 billion.
Subscription and support revenues increased 25 percent annually to $1.68 billion. Professional services and other revenues totaled $127 million, up 28 percent year-over-year.
For fiscal year 2016, total revenue was $6.67 billion, or 75 cents a share.
For the current quarter, analysts are looking for earnings of 21 cents a share on revenue of $1.86 billion.
Salesforce responded with a revenue range of $1.88 billion to $1.89 billion with earnings between 23 and 24 cents per share.
Here are the key takeaways from the Salesforce conference call following earnings:
So far it's already been a busy Q1 for the CRM company. Salesforce kicked off February with the appointment of a new COO, naming Oracle vet Keith Block to take over for George Hu. Weeks later Salesforce announced it had acquired PredictionIO, a small startup behind the machine learning server of the same name.
At a pre-Super Bowl powwow with media and analysts, Benioff outlined the CRM giant's game plan for the next year, with metadata platform Lightning taking center stage.