- Along with its FQ4 results, Salesforce (CRM) announces CFO Graham Smith is retiring in March 2015. A search will begin for a successor.
- Salesforce expects FQ1 revenue of $1.205B-$1.21B and EPS of $0.09-$0.10 vs. a consensus of $1.19B and $0.10. FY15 (ends Jan. '15) guidance is for revenue of $5.25B-$5.3B and EPS of $0.48-$0.50 vs. a consensus of $5.21B and $0.50.
- The deferred revenue balance rose 35% Y/Y to $2.52B in FQ4 after growing at a 34% clip in FQ3. Unbilled deferred revenue rose 29% Y/Y to $4.5B after growing 40% in FQ3.
- Aggressive spending continues to pressure margins: Opex rose 45% Y/Y to $975.5M (exceeded rev. growth of 38%), with sizable increases in sales/marketing (56% of revenue), R&D, and G&A.
- Free cash flow fell 13% Y/Y to $201.4M, but (thanks to deferred revenue growth) was well above net income of $47M. For the whole of FY14, FCF was $576.4M.
- FQ4 results, PR