Salesforce has surprised the cocaine nose jobs of Wall Street by raising its full-year revenue forecast for the fourth time after reporting a quarterly adjusted profit above market expectations.
As you might expect, the rise in money has been driven by higher demand for its web-based sales and marketing software.
San Francisco-based Salesforce has been benefiting as more businesses choose cheaper and easier cloud software services. The company provides its services online, with no software directly installed on PCs.
The company’s adjusted operating margin expanded to 13.3 percent in the third quarter ended October 31 from 11.3 percent a year earlier.
Salesforce raised its revenue forecast for the year ending January 2016 to $6.64 billion-$6.65 billion from $6.60 billion-$6.63 billion.
Revenue rose 23.7 percent to $1.71 billion in the third quarter. Analysts on average had expected $1.70 billion.
Salesforce has been slowly killing off Oracle and SAP in the customer relationship management software market.
The company’s net loss narrowed to $25.2 million from $38.9 million a year earlier.
