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First Quarter Kind To Salesforce.com

Earnings exceed expectations

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[ Business]

Another first-quarter earnings report has trickled in, and for Salesforce.com, 2008 is looking good so far.  The CRM company beat analysts’ expectations in most respects.

Its gains weren’t spectacular, mind you.  A general idea of Salesforce’s accomplishments can be had by looking at its stock, which is up about 6.5 percent so far today (6.53 percent, to be exact) – nice, but not spectacular.  Still, given the state of the economy, "nice" seems to be the new "great."

Salesforce.com
 Salesforce.com

On to the details.  A Reuters article states, "The company reported first-quarter net income of $9.6 million, or 8 cents per share, up from $730,000, or 1 cent per share, in the year-ago period.  Revenue rose 52 percent to $247.6 million from $162.4 million a year earlier.  Analysts, on average, had forecast earnings of 7 cents per share on revenue of $235.7 million, according to Reuters Estimates."

Analysts’ forecasts for the second quarter are on track to be low, as well, according to Salesforce’s figures.  Just don’t expect any blowouts.

Salesforce hasn’t publicly announced any big plans in the recent past, but the company is at least continuing to attract new customers.

First Quarter Kind To Salesforce.com
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