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Salesforce.com Announces Q2 Results
TMCnet Contributing Editor
On-demand CRM vendor salesforce.com has announced results for its fiscal second quarter ended July 31, 2006.
"As we soar past the half-million paying subscriber mark, we stand on the cusp of another remarkable achievement: a half-billion dollar annual run rate," said Marc Benioff, chairman and CEO of salesforce.com.
Salesforce.com's (News - Alert) announced results for the second quarter of fiscal year 2007include total revenue of $118 million, an increase of 64% on a year- over- year basis and an increase of 13% on a quarter-to-quarter basis. Subscription and support revenues were $106.7 million, an increase of 63% on a year-over-year basis and an increase of 13% on a quarter-to-quarter basis.
Professional services and other revenues were doing well, $11.5 million, an increase of 82% on a year-over-year basis and an increase of 13% on a quarter-to-quarter basis.
Earnings per Share: GAAP earnings per share were "approximately break- even," company officials said, noting that non-GAAP earnings per diluted share, excluding the effects of stock based compensation and amortization of purchased intangibles related to acquisitions, were $0.06.
Net paying subscribers rose approximately 57,000 during Q2 to exit the quarter at approximately 501,000 total subscribers, an increase of 63% from Q2 of the prior year, and an increase of 13% from the prior quarter.
Customers rose approximately 2,100 during the quarter and totaled approximately 24,800, an increase of 47% from Q2 of the prior year, and an increase of 9% from the prior quarter.
Based on information as of August 16, 2006, salesforce.com is initiating guidance for its third quarter fiscal 2007 ending October 31, 2006, and updating guidance for its full fiscal year 2007 ending January 31, 2007.
Q3 FY07: Revenue for the company's third fiscal quarter is projected to be in the range of approximately $126 million to approximately $128 million. Non-GAAP diluted EPS is expected to be in the range of approximately $0.04 to $0.05, and GAAP EPS is expected to be in the range of approximately break-even to a loss of $0.02 for the third quarter.
David Sims is a contributing editor for TMCnet. For more articles please visit David Sims’ columnist page.
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