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Salesforce.com Beats Expectations And Raises Annual Guidance

|Includes:Salesforce.com, Inc. (CRM)

Originally published at www.seclive.com

Salesforce.com, Inc. (NYSE:CRM) announced its financial results for the second quarter of fiscal year 2013, reporting revenue and earnings that beat expectations. Revenue increased 31% to $957.1M, well exceeding the $931M to $936M range it had previously forecast. Earnings were $76.6M, or $0.12 per share, which exceeded expectations, prompting the company to raise its third quarter and annual guidance. Last month, Salesforce completed a $2.5B acquisition of ExactTarget, Inc., an online-marketing provider, the largest acquisition the company has completed. While operating expenses increased 34%, the company's gross margin fell slightly from 77.8% to 77.3%. Salesforce expects annual earnings per share between $0.32 and $0.34, with revenues now projected between $4.00B and $4.03B, up from its previously expected $3.95B to $4.00B.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: CRM