However, analysts were estimating a profit of $0.18 per share on revenue of $1.6 billion.
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Cash: Cash generated from operations for the fiscal second quarter was $304 million, an increase of 24% year-over-year.
Analysts at Credit Suisse have reiterated an Outperform rating on salesforce.com, Inc.
The stock is up more than 3% after hours on the solid revenue growth and guidance.
Marc Benioff, Salesforce’s co-founder and CEO, shed light on the company’s ambitious long-term outlook, citing goals to reach a $7 billion run rate this year as well as become the fastest software company yet to reach $10 billion in annual revenue.
Salesforce often records losses, largely because of accounting conventions related to its method of booking revenue.
Salesforce.com (CRM – Get Report), a software company focusing on applications in customer relationship management, was the subject of takeover chatter on April 29, with Oracle (ORCL) the likely suitor.
Q3 FY16 Guidance: Revenue for the company’s third fiscal quarter is projected to be approximately $1.69 billion to $1.70 billion, an increase of 22% to 23% year-over-year.
$US1.63 billion revenue vs $US1.60 billion expected. GAAP loss per share is estimated in a range of $0.01 to $0.02 and adjusted EPS is estimated at $0.18 to $0.19. (NYSE:CRM) along with the price target of $90 ahead of its second quarter earnings FY16.
The company’s shares rose 4 percent in extended trading after the world’s biggest maker of online sales software also forecast current-quarter revenue and adjusted profit above analysts’ average estimates.
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The company expects earnings excluding items of 70 cents to 72 cents a share for the year ending in January, on revenue of $6.6 billion to $6.625 billion, above previous guidance of 69 cents to 71 cents a share and $6.52 billion to $6.55 billion, respectively.
