Salesforce.com continued to grow at a rapid clip in its third quarter, growing revenue by almost a half and comfortably beating Wall Street’s earnings estimates.
The software-on-demand provider reported net income of $6.5m, compared to just a few hundred thousand dollars a year ago, on revenue that was up 48% at $176.4m.
Earnings per share of $0.05 beat the analysts’ consensus estimate by $0.02, albeit aided by a one-cent benefit from selling off an investment.
The company netted 2,800 new customers during the quarter, ending October with 38,100 customers, which is 8% more than the second quarter and 41% more than a year ago.
With its business still performing well, Salesforce.com now expects to see its first billion-dollar year in its 2009 fiscal year, which kicks off this coming January.
The company raised its estimates for the current fiscal year to revenue of between $737m, and $739m, with earnings per share of between $0.12 and $0.13, at least two cents more than analysts were expecting.