Tomahawk, WI 08/22/2214 (Basicsmedia) – Salesforce.com, inc. (NYSE:CRM) Continues to register immense growth out of the cloud, as more companies continue to make a push for the same. The company registered a 38% growth in revenue which according to Jim Cramer on CNBC ranks the company as the tenth best performing Software Company after Google went public. CEO, Mark Benioff, in an interview on CNBC, was quick to point out that salesforce achieved another milestone in the software industry after toppling the initial set revenue run-rate.
“We’ve now crossed that $5 billion revenue run rate as well, I don’t think there has ever been a software company that has grown at 38% at a $5 billion revenue run-rate before, and that’s why Salesforce.com is excited today, “said Mr. Benioff.
salesforce.com, inc. (NYSE:CRM) celebrated its 10th anniversary after going public in June having returned about 1700% return to shareholders over the last decade. Salesforce.com is arguably the number one provider of customer relationship management consistently growing as more customers make a shift from its cores sales cloud product to its service cloud product.
Partnerships with other companies like Microsoft Corporation (NASDAQ:MSFT) especially on cloud marketing platform, ExactTarget, continues to offer huge upsides for Salesforce according Benioff.
“It was an incredible quarter for ExactTarget and we saw our ability to sell that product and have success with the market in the cloud, which is what ExactTarget has become. […] the number one customer for Exact Target is Microsoft Corporation (NASDAQ:MSFT) who has built a great new product they have called office 365 on top of our salesforce marketing cloud ”said Mr. Benioff.
Investors who have been pushing for more from salesforce.com, inc. (NYSE:CRM) look to have got their wishes as the giant software company reported $1.32 billion in revenue up by 38% year over year, slightly above estimates of $1.3 billion. Salesforce also posted a 34% growth in cash generated from operations closing the quarter with total cash, marketable securities, as well as cash equivalents amounting to $1.67 billion.
salesforce.com, inc. (NYSE:CRM) expects its third quarter revenue to grow by 27% in the margins of between $1.365 billion and $1.370 billion.