Reports Stellar Figures in Q1 FY’17

by Trefis Team
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Salesforce (NYSE:CRM) announced its best ever Q1 earnings on Wednesday, May 18th. The company’s revenue grew by nearly 27% year-on-year (y-o-y) to $1.9 billion for the quarter. The rise in revenue was primarily driven by a surge in subscriptions for AppCloud and Service Cloud. The company’s net income increased nine-fold y-o-y to $38.8 million, which was aided by substantial gains on the sale of strategic investments and changes in accounting standards. GAAP earnings per share for the company increased from $0.01 in Q1 FY’16 to $0.06 in this quarter.

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Future Outlook 

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Buoyed by these figures, the company projects its revenues to increase by 22-23% year on year, to be in the range of $8.16 billion to $8.20 billion. The company expects the GAAP earnings per share to be in the range of $0.20 to $0.22 and non GAAP EPS to be $1 – $1.02.

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