Salesforce.com, Inc. (NYSE: CRM) released fiscal third-quarter financial results after markets closed on Thursday. The company posted $0.24 in earnings per share (EPS) and $2.14 billion in revenue. There were consensus estimates from Thomson Reuters that called for $0.21 in EPS and $2.12 billion in revenue. The same period from last year had $0.21 in EPS and $1.71 billion in revenue.
Deferred revenue totaled $3.50 billion, an increase of 23% year-over-year, and 25% in constant currency.
In terms of guidance for the fiscal fourth-quarter, the company expects to see EPS in the range of $0.24 to $0.25 and revenues in the range of $2.267 billion to $2.277 billion. There are consensus estimates that are calling for $0.25 in EPS and $2.24 billion in revenue.
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Cash generated from operations totaled $154 million, a decrease of 5% year-over-year. Total cash, cash equivalents and marketable securities finished the quarter at $1.75 billion.
Marc Benioff, Chairman and CEO of Salesforce, commented:
Salesforce delivered an exceptional quarter with year-over-year revenue growth of 25% in dollars and 27% in constant currency. I’m delighted to announce that we expect to deliver our first $10 billion year during our fiscal year 2018, which puts us well on the path to reach $20 billion faster than any other enterprise software company.
Keith Block, vice chairman, President and COO, added:
We had outstanding execution in the third quarter, closing a record number of large transactions as more and more companies look to Salesforce as their trusted advisor to redefine their customer strategies. No other enterprise software company is delivering customer success at this scale — and certainly not at this pace.
Shares of Salesforce closed Thursday at $75.18, with a consensus analyst price target of $93.40 and a 52-week trading range of $52.60 to $84.48. Following the earnings report, the stock was up 6% at $79.66 in the after-hours trading session.
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