Salesforce meets Q4 targets, raises revenue guidance

The CRM giant reported earnings of 14 cents per share on revenue of $1.44 billion, up 26 percent annually.

wallst-lg-620x317.jpg delivered its fourth quarter earnings report after the bell on Wednesday, and the results were largely in line with expectations.

The CRM giant reported a fourth quarter net loss of $65.7 million, or 10 cents per share (statement).

Non-GAAP earnings were 14 cents per share on revenue of $1.44 billion, up 26 percent annually.

Wall Street was expecting a mirror image, with earnings at 14 cents per share on revenue of $1.44 billion.

For the current quarter, Salesforce gave revenue guidance between $1.48 and $1.50 billion, while also raising its fiscal 2016 guidance to be between $6.47 billion and $6.52 billion. Analysts had projected $6.5 billion.

As a result, Salesforce shares were up just over one percent in after-hours trading.

In prepared remarks, Salesforce CEO Marc Benioff boasted the company's revenue milestone:

"Salesforce delivered yet another year of exceptional growth, with revenue, deferred revenue and operating cash flow all growing more than 30%, while exceeding our expectations in non-GAAP operating margin improvement. Salesforce reached $5 billion in annual revenue faster than any other enterprise software company and now it's our goal to be the fastest to reach $10 billion."