News Byte: Salesforce.com Beats Q2 Estimates
Source: Carsten Schertzer via Flickr Creative Commons
CRM giant Salesforce.com beat Wall Street's estimates when it revealed its Q2 revenue of $957 million, up 31% year over year. Wall Street analysts had expected revenue of $939.2 million.
Salesforce's revenue increase can be attributed in part to its $2.5 billion acquisition of email marketing solutions provider ExactTarget, which closed July 2013. Additionally, Salesforce reported subscription and support revenues of $903 million, up 31% year over year, and professional services and other revenues of $54 million, up 23% year over year.
Despite its roots as a provider of cloud-based CRM technologies, Salesforce has, in recent years, been expanding its areas of expertise, evolving into a platform on which brands can get apps and services that can support their marketing, sales, or customer service teams.