Salesforce Q2 Results Top Estimates; Boosts FY Outlook

(RTTNews) - salesforce.com, inc. (CRM) reported a net loss for the second quarter of $852,000 or breakeven per share, compared to a net loss of $61.0 million or $0.10 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $128.3 million or $0.19 per share, compared to $85.7 million or $0.13 per share in the prior year quarter.

Total revenue for the second quarter rose 24% to $1.63 billion from $1.32 billion a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.18 per share on revenue of $1.60 billion for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts revenue of $1.69 billion to $1.70 billion, loss per share of $0.02 to $0.01 and adjusted earnings per share of $0.18 to $0.19. Analysts currently expect the company to earn $0.18 per share on revenue of $1.68 billion for the third quarter.

For the full fiscal year 2016, the company now forecasts revenue of $6.60 billion to $6.625 billion and adjusted earnings of $0.70 to $0.72 per share. Previously, the company forecast revenues of $6.52 billion to $6.55 billion and adjusted earnings of $0.69 to $0.71 per share.

Analysts currently expect the company to earn $0.71 per share on revenue of $6.55 billion for the full fiscal year 2016.