Salesforce.com, Inc. (NYSE: CRM) reported its most recent financial results after the markets closed on Wednesday. The company had $0.16 in earnings per share (EPS) on $1.51 billion billion in revenue compared to Thomson Reuters consensus estimates of $0.14 in EPS on $1.50 billion in revenue. The same period from the previous year had $0.11 in EPS on $1.23 billion in revenue.

On the balance sheet, as of the end of April, deferred revenue totaled $3.06 billion, an increase of 31% year over year, and 36% in constant currency. Unbilled deferred revenue totaled roughly $6.0 billion, up 25% year over year.

The company gave guidance for the second quarter and the full year. For the second quarter Salesforce.com expects EPS in the range of $0.17 to $0.18 and $1.59 billion to $1.60 billion in revenue compared to consensus estimates of $0.17 in EPS on $1.59 billion in revenue. As for the full year the company expects EPS to be in the range of $0.69 to $0.71 and $6.52 billion to $6.55 billion in revenue versus consensus estimates of $0.69 in EPS on $6.51 in revenue.

Total cash, cash equivalents and marketable securities finished the quarter at $1.92 billion.

Marc Benioff, Chairman and CEO of Salesforce, commented on earnings:

Salesforce has surpassed the $6 billion annual revenue run rate faster than any other enterprise software company, and our current outlook puts us on track to reach a $7 billion revenue run rate later this year. Our goal is to be the fastest to reach $10 billion in annual revenue.

A few analysts weighed in on Salesforce.com before it reports earnings:

• Jeffries reiterated an Underperform rating with a $49 price target.
• D.A. Davidson reiterated a Neutral rating and raised its price target to $73 from $66.
• RBC Capital reiterated an Outperform rating with a $79 price target.

Shares of Salesforce.com closed Wednesday down 1.9% at $70.16 on a 52-week trading range of $49.62 to $78.46. Following the release of the financial results, shares were up 3.2% at $72.41 in after-hours trading. The stock has a consensus analyst price target of $76.90.

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