Salesforce Q1 Results Top Estimates; Boosts FY16 Outlook

(RTTNews) - salesforce.com, inc. (CRM) reported net income for the first quarter of $4.1 million or $0.01 per share, compared to a net loss of $96.9 million or $0.16 per share for the year-ago quarter.

Excluding items, adjusted earnings for the latest quarter were $0.16 per share.

Total revenue for the first quarter rose 23% to $1.51 billion from $1.23 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.14 per share on revenue of $1.50 billion for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts revenue of $1.59 billion to $1.60 billion, earnings per share in a range of loss of $0.01 per share to breakeven per share and adjusted earnings of $0.17 to $0.18 per share. Analysts currently expect the company to earn $0.17 per share on revenue of $1.59 billion for the second quarter.

For the fiscal year 2016, the company now forecasts revenue of $6.52 billion to $6.55 billion, loss of $0.12 to $0.10 per share and adjusted earnings of $0.69 to $0.71 per share. Previously, the company forecast revenue of $6.48 billion to $6.52 billion and adjusted earnings of $0.67 to $0.69 per share. Analysts currently expect the company to earn $0.69 per share on revenue of $6.51 billion for the fiscal year 2016.