Salesforce.com reported fourth-quarter earnings and revenue that met analyst expectations on Wednesday, and its stock rallied about 11 percent in extended-hours trading.
The company posted adjusted earnings per share of 14 cents on revenue of $1.44 billion—exactly meeting average Wall Street estimates.
The company guided slightly lighter than Wall Street predictions, but the stock rose because deferred revenue and bookings both topped expectations, analysts told CNBC.
Bookings are an indicator of future growth for the firm.
"Salesforce delivered yet another year of exceptional growth, with revenue, deferred revenue and operating cash flow all growing more than 30%, while exceeding our expectations in non-GAAP operating margin improvement," Marc Benioff, the company's Chairman and CEO said in its earnings release.
"Salesforce reached $5 billion in annual revenue faster than any other enterprise software company and now it's our goal to be the fastest to reach $10 billion," he added.
—CNBC's Josh Lipton contributed to this report.