Salesforce.com Inc Q1 Profit Decreases, but beats estimates

(RTTNews) - Salesforce.com Inc (CRM) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $28 million, or $0.30 per share. This compares with $469 million, or $0.50 per share, in last year's first quarter.

Excluding items, Salesforce.com Inc reported adjusted earnings of $0.98 billion or $0.98 per share for the period.

Analysts on average had expected the company to earn $0.94 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 24.3% to $7.41 billion from $5.96 billion last year.

Salesforce.com Inc earnings at a glance (GAAP) :

-Earnings (Q1): $28 Mln. vs. $469 Mln. last year. -EPS (Q1): $0.30 vs. $0.50 last year. -Analyst Estimates: $0.94 -Revenue (Q1): $7.41 Bln vs. $5.96 Bln last year.

-Guidance: Next quarter EPS guidance: $1.01 - $1.02 Next quarter revenue guidance: $7.69 - $7.70 Bln Full year EPS guidance: $4.74 - $4.76 Full year revenue guidance: $31.7 - $31.8 Bln