Salesforce (CRM) expects FQ2 revenue of $1.285B-$1.29B and EPS of $0.11-$0.12 vs. a consensus of $1.27B and $0.12. FY15 (ends Jan. '15) guidance is for revenue of $5.3B-$5.34B and EPS of $0.49-$0.51 vs. a consensus of $5.29B and $0.50.
The deferred revenue balance rose 34% Y/Y in FQ1 to $2.32B after growing 35% in FQ4 and 34% in FQ3. Unbilled deferred revenue (contracted but not billed) rose 33% to $4.8B, an improvement from FQ4's 29% clip.
Spending remains heavy: GAAP sales/marketing spend +37% to $639.4M, R&D +43% to $188.4M, G&A +25% to $162.1M. Capex totaled $60.1M. Nonetheless, free cash flow rose 80% Y/Y to $413M, well above net income to $69.5M.
Americas revenue (71% of total) rose 39% Y/Y. EMEA grew 35%, and Asia-Pac 26%.
FQ1 results, PR