Salesforce reports 34% rise in Q2 revenue

Outsourcing and BPO

by CBR Staff Writer| 24 August 2012

Salesforce.com has reported 5% decline in its stocks

Enterprise software provider Salesforce.com has reported a 34% growth in its revenue $732m during second quarter of this year compared to corresponding quarter last year.

Salesforce.com's subscription and support revenues increased 35% on a year-over-year basis to $687m while its professional services and other revenues were $44m reporting an increase of 20% on a year-over-year basis.

Salesforce.com chairman and CEO Marc Benioff said company's second quarter revenue growth was at 34% in dollars and 37% in constant currency.

"Salesforce.com's social enterprise strategy is enabling companies to connect with customers, partners, and employees in completely new ways - and it's creating new opportunities for their growth and ours," Benioff said.

Salesforce.com reported second quarter net loss of $9.8m or $0.07 per share, compared to a net loss of $4.3m or $0.03 per share it reported during a year ago period.

During the quarter the cash generated from operations for quarter was $136m, an increase of 64% on a year-over-year basis.

During the third quarter, Salesforce.com expects net loss of $0.27 to $0.26 per share and adjusted earnings $0.31 to $0.32 per share. Revenues are expected in the range of $773m to $777m.

The company expects full year revenue to be in the range of $3.025bn to $3.035bn during the fiscal 2013, an increase of 33% to 34% on year-over-year basis.

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