Salesforce reported quarterly revenue and earnings that surpassed analysts’ expectations. The cloud software company also boosted its full-year outlook.
The company’s fiscal second quarter adjusted earnings came in at 66 cents per share, compared to 47 cents per share expected by analysts polled by Refinitiv.
Revenue increased +22% from the year ago quarter to reach $4 billion, which is higher than analysts’ estimate of $3.95 billion (according to Refinitiv). Revenue from Sales Cloud, the company’s biggest product, grew +13%, and that from Service Cloud, the second-largest division, surged +22%.
In addition to strong organic growth, Salesforce also seems to be potentially on a path of further expansion as it acquired, earlier this month, data visualization software company Tableau in a $15.3 billion deal.
Looking ahead, Salesforce raised its revenue projection for the year to between $16.75 billion and $16.9 billion, up from its previous guidance of up to $16.25 billion.
For the fiscal third quarter, the company expects revenue of $4.44 billion to $4.45 billion, i.e. a +31% year-over-year growth.