Salesforce.com reported $504.3 million in revenue in the first quarter of fiscal 2012, a 34% year-over-year increase. The company saw $254 million in sales and marketing expenses in the period, a 46% increase compared with fiscal Q1 2011.
The San Francisco-based CRM company’s subscription and support revenue was $473.5 million, a year-over-year increase of 35% in fiscal Q1 2012, which ended April 30. Professional services and other business accounted for $30.8 million in revenue, an increase of 18%, year-over-year.
Operating expenses increased 45%, compared with Q1 2011, to $404 million. Income from operations decreased 106% year-over-year, resulting in a loss of $2.8 million. Cash generated from operations for the fiscal first quarter was $140 million, a decrease of 3% year-over-year.
Salesforce.com’s customer base grew by about 5,400 during the period to close at approximately 97,700. It has added 20,400 net paying customers since April 30, 2010, an increase of 26% year-over-year, the company said in an earnings statement.
“Salesforce.com has become the first enterprise cloud computing company to reach a $2 billion annual revenue run rate,” said Marc Benioff, chairman and CEO, in a statement. “We are delighted to see our revenue growth rate continue to accelerate.”
Correction: An earlier version of this article incorrectly described the company’s expenses in its fiscal first quarter. Salesforce.com spent $254 million on sales and marketing in the period, an increase of 46% compared with the prior year. We regret the error.