Salesforce.com Reports Strong Q3 Results, Expects To Hit $4B Revenue In 2014
Salesforce.com reported yesterday that it beat Wall Street expectations for its Q3 2012 earnings, and that it is on track to become the first cloud computing company with a $4 billion revenue run rate.
The CRM vendor reported revenue of $788 million, or 33 cents a share, an increase of 35 percent from Q3 of 2011. The company also reported a net loss of $220 million, or $1.55 a share, mostly due to a one-time tax-related charge. Excluding the charge, the company would have reported earnings of 33 cents a share.