Salesforce.com Reports $788 Million In Q3 Revenues
Salesforce.com has posted their financial results for Q3 2012 and they beat Wall Street expectations. Salesforce.com reported Q3 revenue of $788 million, which is up 35% year-over-year and they are up 7.6% from Q2 2012. Based on a non-GAAP basis, Salesforce’s earnings per share (EPS) was 33 cents, which is a one cent decline from its EPS in Q3 2011 and nine cents down from its Q2 2012 EPS.
Wall Street analysts expected the company to post revenues of $776.7 million and non-GAAP EPS of 32 cents according to FactSet. According to Salesforce’s CEO Marc Benioff, the company’s performance has been strong when compared to their own history and the sales numbers of their competitors.
Here is what Salesforce.com had to say in an earnings statement:
“Salesforce.com is the first enterprise cloud computing company to exceed a $3 billion annual revenue run rate, with outstanding third quarter revenue growth at 35% in dollars and 37% in constant currency.”
Salesforce.com’s third quarter GAAP net loss per share was -$1.55. This was due to a $149 million one-time, non-cash income tax related charge that was incurred during the quarter. Salesforce’s non-GAAP results exclude that charge and other interest and stock-based compensation expenses. Salesforce expects to finish the year on a stronger note. Salesforce said that its full-year revenue should be between $3.041 billion to $3.046 billion. Their full-year non-GAAP EPS should be between $1.50 and $1.52.@amitchowdhry or on Google+ at +AmitChowdhry