Salesforce Beats Estimates With $957M In Revenues, Earnings 9 Cents Per Share

Salesforce.com beat estimated earnings, posting $957 million in revenues, a 31 percent increase compared to last year. Non-GAAP earnings were 9 cents per share. Subscription and support revenues were $903 million, also a 31 percent increase on a year-over-year basis.

Salesforce projects its revenues to top $4 billion for the 2014 fiscal year. In 2013, it posted $3 billion in revenues. In 2012, revenues were $2.2 billion. The company posted its first billion-dollar year in the 2010 fiscal year with $1.3 billion in revenues.

David Girouard, who ran Google Enterprise for many years, noted the significance of Salesforce’s earnings.

Closing in on first $1B quarter at @salesforce. Will be a first for the cloud – congrats @Benioff & team!!

— Dave Girouard (@davegirouard) August 29, 2013

For more than a year, Salesforce has put much of its emphasis on its marketing cloud. The company benefitted in part from its acquisition of ExactTarget for $2.5 billion. Salesforce took a $300 million loan to buy ExactTarget, signaling a potential cooling in its company purchases.

The company does not appear to be deepening its CRM platform. Instead, it is increasingly becoming a platform for app developers and services providers. This is evident in partnerships such as the one it announced today with Good Technology for offering its mobile security technology with the Salesforce mobile software development kit.