Salesforce Exceeds Analysts' Estimates After Adding Software Features

Friday Feb 24th 2012 by Staff

The cloud computing giant's billings grew by 57 percent year-over-year.

Bloomberg: If's quarterly results are indicative of a wider trend, it appears that more enterprises are embracing software as a service (SaaS). Salesforce reported fourth quarter sales of $631.9 million, beating analysts' predictions of $624.1 million. Quarterly profits came in at 43 cents a share.

During the quarter, Salesforce appears to have added a number of new customers, as billings rose 57 percent compared to the previous year. Analysts credit new product capabilities, including social media and mobility features, for attracting more customers to the cloud-based CRM.

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