Salesforce just reported its third quarter earnings.
It's an overall beat across the board. Shares are up more than 3% after hours, and are now at a record of almost $80 per share.
Here are the most important numbers:
Revenue: $1.71 billion vs. $1.70 billion expected
EPS: $0.21 per share vs. $0.19 per share (non-GAAP)
The revenue is a 24% jump from the same quarter of last year. Salesforce also raised its full year revenue guidance to $6.64 billion to $6.65 billion.
“I’m delighted to announce that we expect to deliver our first $8 billion year during our fiscal year 2017, which puts us well on the path to reach $10 billion faster than any other enterprise software company," Salesforce CEO Marc Benioff said in a statement.
Salesforce also reported $2.85 billion in deferred revenue, on top of $6.7 billion in unbilled deferred revenue, meaning it has over $9 billion in sales that hasn't yet been recorded due to accounting rules. Net loss came in at $25.1 million.
For the fourth quarter, Salesforce gave guidance in the range of $1.78 billion to $1.79 billion, up 23% to 24% from last year. Adjusted EPS is expected to be in the range of $0.18 to $0.19 per share.
Salesforce shares have been reaching record highs lately after consistently beating earnings expectations in recent quarters.
In the past quarter, Salesforce held its annual Dreamforce conference, which brought in over 170,000 people from all over the world. It also struck a number of deals with Microsoft, which has kept talks of a possible sale afloat even after 6 months the rumor was first reported.
Salesforce has been able to grow at a healthy ~25% rate annually, proving to be a rare breed in the enterprise software space, where most companies of its size see growth slow down. Investors have also been keeping an eye on how Salesforce is managing to improve its operating margin, as it grows into the larger enterprise market.
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