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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.

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

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