Join the WebProWorld Forum!

First Quarter Kind To Salesforce.com


Earnings exceed expectations

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.

Digg This! StumbleUpon This!
AddThis Social Bookmark Widget

About the author:
Doug is a staff writer for WebProNews. Visit WebProNews for the latest eBusiness news.

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
9 + 5 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.