UPDATE:Salesforce.com 2Q Profit Doubles; Co Raises Fiscal Year '10 Views
2009年8月21日 - 6:45AM
Dow Jones News
Salesforce.com Inc.'s (CRM) fiscal second-quarter profit more
than doubled amid strong revenue growth, leading the company
Thursday to raise its views for the fiscal year.
Higher-than-expected revenue and earnings per share and a raised
full-year 2010 outlook will help allay some recent concerns that
the San Francisco-based company, which specializes in on-demand
business software, was experiencing a transition to a lower growth
phase.
The company's shares jumped almost 9% to $50.20 in after-market
trading, after closing at $46.18 Thursday. The shares have more
than doubled since late November but remain off one-quarter from a
year ago amid concerns about a slowdown in revenue growth
rates.
Salesforce.com has weathered the downturn in the economy
relatively well and has continued to grow its revenue amid
shrinking corporate technology budgets. But in recent months
analysts have expressed concern the fast-growing company could face
lower renewal rates and declining demand due to layoffs and
economic weakness. They worry that even as growth returns to the
economy, Salesforce.com may not enjoy the turbo-charged growth
rates it was seeing before the recession.
For the period ended July 31, Salesforce.com reported earnings
of $21.2 million, or 17 cents a share, compared with $10 million,
or 8 cents a share, a year earlier. Revenue grew 20% to $316.1
million.
In May, the company had projected earnings of 14 cents to 15
cents on revenue of $312 million to $313 million
Subscription and support revenue climbed 22%, while professional
services and other revenue dropped 3%.
Gross margin widened to 80.2% from 79.4%. The company's paying
customer base grew 32% to 63,200.
For the fiscal year, Salesforce.com now expects earnings of 60
cents to 61 cents a share on revenue of $1.27 billion to $1.28
billion, above the 59 cents to 60 cents and $1.25 billion to $1.27
billion the company previously expected.
The company expects fiscal third-quarter earnings of 15 cents to
16 cents on revenue of $323 million to $324 million. Wall Street
expects earnings of 15 cents a share on revenue of $318
million.
-By Jessica Hodgson and Jay Miller, Dow Jones Newswires;
415-439-6455; jessica.hodgson@dowjones.com