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.
Written by Natalie Gagliordi, Contributor

Salesforce.com 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."
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