Salesforce.com Q2 revenue up, revises guidance

Adds 3,900 net new customers, bringing total to more than 63,000

Salesforce.com, the enterprise cloud computing company, has reported results for its fiscal second quarter ended July 31, 2009.

The company's total Q2 revenue was reported at $316.1m, up 20% on a year-over-year basis. Q2 GAAP diluted earnings per share were about $0.17, including about $20.9m in stock based compensation expense and over $2.2m in amortisation of purchased intangibles related to previously announced acquisitions.

For Q2, cash from operations was about $45.9m, down 14% year-over-year. Total cash, cash equivalents and marketable securities finished the quarter at about $1.03 billion, up about $207m from the year-earlier period.

The company's deferred revenue on the balance sheet as of July 31, 2009 was $549m, up 14% on a year-over-year basis. The company said that its subscription and support revenues were $293.4m, an increase of 22% year-over-year. Professional services and other revenues were $22.6m, down 3% on a year-over-year basis.

The company also said that its net paying customers rose about 3,900 during the quarter to about 63,200. Its net paying customers have grown by about 15,500 or 32% from the year ago quarter.

As of August 20, 2009, the company is initiating guidance for its third quarter, fiscal year 2010. For its full fiscal year 2010, the company is raising its prior revenue guidance and EPS guidance.

For Q3 FY10, the company sees revenue for the third fiscal quarter to be in the range of about $323m to $324m and GAAP diluted EPS is expected to be at $0.15 to $0.16.

For the fiscal year ending January 2010, the company expects revenue of about $1.27 billion to $1.28 billion and GAAP diluted EPS of about $0.60 to $0.61.

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