View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Cloud
May 21, 2015

Salesforce sets sights on $10bn annual revenue

The company expects revenue of $1.59bn for the fiscal second quarter.

By CBR Staff Writer

Salesforce has reached $6bn in annual revenues and has set its sights on the $10bn annual revenue mark.

Salesforce chairman and CEO Marc Benioff said: "Salesforce has surpassed the $6 billion annual revenue run rate faster than any other enterprise software company, and our current outlook puts us on track to reach a $7 billion revenue run rate later this year.

"Our goal is to be the fastest to reach $10 billion in annual revenue."

Salesforce’s revenue increased 23% in its fiscal first quarter ending 30 April, with the company posting a profit for the first time in seven quarters.

Revenue increased 23% to $1.51bn in Q1, compared to $1.22bn for the same period in 2014. Net income was $4.1m, or $0.01 per share, compared to a loss of $96.9m, or $0.16 per share, a year earlier.

Subscription and support revenues increased 22% to $1.41bn, while professional services and other revenues rose 33% to $106m.

The company said its deferred revenue increased 31% to $3.06bn from a year earlier.

Content from our partners
The growing cybersecurity threats facing retailers
Cloud-based solutions will be key to rebuilding supply chains after global stress and disruption
How to integrate security into IT operations

Salesforce expects revenues of $1.59bn for the fiscal second quarter, an increase of 21% year-over-year.

Websites in our network
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED
THANK YOU