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Salesforce.com (CRM – Get Report) shares rose 1.4% after the company's first quarter reporting period, far exceeding analysts' estimates.
Salesforce reported a 24 percent increase in revenue from the prior year to $ 3.74 billion for earnings of 93 cents per share. Analysts expected the company to report revenue of $ 3.66 billion and earnings of 61 cents per share.
"I am pleased with our results this quarter and the fact that we recorded a record turnover in the first quarter and an operating cash flow of nearly $ 2 billion, up 34% year-on-year," he said. said Marc Benioff, president and co-director general. Salesforce. "We have a huge opportunity ahead of us and we are well positioned for our long-term growth as the world's No. 1 CRM."
The company also raised its earnings per share target for the full year to $ 2.88-2.90 from $ 2.74 and $ 2.76 per share. Analysts expect the company to report earnings of $ 2.67 per share.
For the second quarter, the company plans to generate a turnover of between 3.94 and 3.95 billion dollars, against 3.94 billion for Wall Street.
"The strong growth in our revenue this quarter reflects the strength of our business and the tremendous demand from our customers around the world," said Keith Block, co-CEO of Salesforce. "Businesses of all sizes and industries are undergoing a digital transformation to better serve their customers and choose Salesforce as their partner."
Shares rose 1.4% to $ 152.71 after normal hours, following a nearly 4% rise in regular trading on Tuesday.
Salesforce is a key part of Jim Cramer's Action Alerts PLUS Charitable Trust.
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