Salesforce.com Tops Forecasters on 3rd-Quarter Numbers
By segment, subscription and support revenues of $4.24 billion represented a gain of 33.8% and professional services and other revenues of $274 million represented a gain of 22.3%. "We had strong growth across our clouds and regions in the quarter as more companies turn to Salesforce as a trusted advisor in their digital transformations. With these trusted customer relationships, continuous innovation and our phenomenal Trailblazer ecosystem, we have never been better positioned for the future." The San Francisco-based cloud computing company also posted a 108.4% rise in operating cash flow to $298 million in the third quarter of fiscal 2020, up from $143 million in the third quarter of fiscal 2019. Revenue is expected to grow 32% year over year to a range of $4.743 billion to $4.753 billion versus projections of $4.72 billion. For the full year of fiscal 2020, the company targets earnings per diluted share of $2.89 to $2.90 on revenue of $16.99 billion to $17 billion, while analysts estimate earnings per diluted share of $2.86 on revenue of $16.9 billion. For the first quarter and full year of fiscal 2021, the company predicts revenue of $4.8 billion to $4.835 billion (up 28-29% from the prior-year quarter) and of $20.8 billion to $20.90 billion (up 22-23% from the prior year).