Salesforce slaps Amazon, Google with glove: 'I'm THE FIRST $1bn-quarter enterprise cloud biz'
But faint whiff of trouble pulls shares down
Salesforce shares stumbled down 1.5 percent on Monday after the customer relationship management company reported third quarter revenues that narrowly beat analyst expectations.
The company booked sales of $1.072bn, with a billion coming from its core businesses, and $72m from other assets such as platform-as-a-service cloud Heroku. Revenue was up 36 percent year over year.
Revenues beat analyst expectations of $1.06bn, and net earnings per share estimates of 9 cents per share.
The company also issued full-year revenue guidance for its next financial year, and reckoned it would book between $5.15bn and $5.20bn in sales.
Salesforce's leader Marc Benioff put his name on a canned statement that claimed "Salesforce.com is the first enterprise cloud computing company to deliver a $1 billion quarter,".
We would point to the quarterly revenues of Amazon, Microsoft, Google, and others, as evidence for why this statement is wrong, but doubt marketing-whizz Benioff would care.
These earnings come at a time when Salesforce is reinventing itself from a software-as-a-service firm to a platform-as-a-service company via its new Salesforce 1</a product range.
This may be a somewhat tall order for the company, given that a recent bout of botched network maintenance may have caused a huge crash at its US data centers. ®