Salesforce.com CEO on Wall Street Beat
Web-based software maker Salesforce.com raised its full year outlook for a second time after it reported first quarter results on Thursday that beat Wall Street forecasts.
"It's just been an unbelievably great quarter for Salesforce.com," CEO Marc Benioff said on CNBC's "Mad Money."
The San Francisco-based company reported a profit, excluding certain items, of 37 cents per share, in its fiscal first quarter, which ended April 30, beating the 34 cent average analyst's estimate.
Revenue rose 38 percent from a year earlier period to $695 million. Analysts had expected $678.2 million in revenue.
All of Salesforce.com's markets were working this quarter, Benioff told Jim Cramer. Despite Europe's ongoing debt crisis, the company had a great quarter in the region, helped by large transactions with the United Kingdom's Royal Post Office, as well wireless provider Vodafone. It posted strong results in both the United States and Japan, too.
Salesforce.com raised its outlook for its fiscal 2013 revenue to $2.97 billion to $3.00 billion, up 31-32 percent from the year ago period. It previously forecast full year revenue in a range of $2.92 billion to $2.95 billion.
It said it expects adjusted earnings per share to be in a range of $1.60 to $1.63 for the full year. Analysts were expecting fiscal 2013 targets of $2.95 billion in revenue and earnings per share of $1.61.
Salesforce provides cloud computing and social enterprise solutions to various businesses and industries worldwide. The company delivers customer relationship management applications through a social interface, mobility and cloud computing.
"This is the modern era of computing," Benioff said. "And if you are not organized around those three axis, you are not experiencing the kind of growth that we are."
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—Reuters contributed to this report
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