Salesforce.com revenue beats estimates

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Salesforce.com reported a better-than-expected 37 percent rise in quarterly revenue, helped by higher demand for its sales and marketing software.

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Revenue jumped to $1.23 billion in the first quarter ended April 30 from $892.6 million a year earlier. Analysts had, on average, expected revenue of $1.21 billion, according to Thomson Reuters I/B/E/S.

The company's net loss widened to $96.9 million, or 16 cents per share, from an expected loss of $67.7 million, or 12 cents per share.

Excluding items, it earned 11 cents per share.