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November 21, 2010 Q3 revenue up 30%

Expects fiscal 2012 revenue to reach $2bn

By CBR Staff Writer has reported revenues of $429.1m in the third quarter of fiscal 2011, an increase of 30% as compared to $331m of the year-ago quarter.

Revenue from subscription and support was $403m, an increase of 31.1% as compared to $307m in the same quarter a year-ago.

Revenue from professional services and others grew 9% to $26.1m from $24m of the same period last year.

For the quarter ended October 31, 2010, the company’s operating income increased to $35.2m from $30.1m year-over-year. posted a net income of $21.1m, a marginal increase of 0.5% as compared to net income of $21m of Q3 FY10.

Earnings per share for the third quarter of fiscal 2011 decreased to $0.15 from $0.16 of the same period last year.

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Geographically, revenues from Americas increased to $293m accounting for 68% of total revenues. Revenue from Europe grew to $76.5m accounting for 18% of total revenues, and Asia Pacific revenue ($60.1m) accounted for 14% of total revenue. chairman and chief executive officer Marc Benioff said the company believes that their strong growth this year will allow them to deliver approximately $2bn in revenue in fiscal 2012, making the first cloud computing company to achieve that milestone.

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