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Salesforce.com Releases Q3 Results, Product News to Come at Dreamforce
On the cusp of all its other recent headlines, and just in time for the company’s Dreamforce Global Gathering Event 2009, customer relationship management, or “CRM,” software provider, Salesforce.com released its third quarter fiscal year 2010 earnings.
For the period, the company reported a total net income of $20.7 million, up from $10.1 year-over-year. And, according to Marc Benioff (News - Alert), chairman and CEO, Salesforce.com, the company reported record revenue, profit and customer additions in the third quarter fiscal year 2010.
“This gives us fantastic momentum as we head into Dreamforce, where we will announce our biggest product news of the year,” Benioff said.
Total revenue for the period was $330.5 million, up 20 percent year-over-year. Additionally, Salesforce.com’s (News - Alert) net paying customers rose approximately 4,700 during the quarter for a total at the quarter’s end of 67,900. Compared with the same period last year, net paying customers are up 31 percent, or approximately 16,100 individual customer additions over the year.
For the period, Salesforce.com generated cash from operations for the fiscal third quarter of $36 million, up roughly 107 percent year-over-year. At the end of the quarter, the company’s cash, cash equivalents and marketable securities was $1.07 billion, up $265 million from the previous year.
The strong results from the company further solidify the dominant role the company plays in the CRM software market and, even further, in the continuously evolving telecom industry. At a time when many telecom companies are reporting quarterly losses, Salesforce.com is proving to stay, not only afloat, but ahead of the competition by a landslide.
Kelly McGuire is a TMCnet Web editor, covering CRM and workforce technologies, and anchor of its daily TMC Newsroom video broadcast. Kelly also writes about eco-friendly "green" technologies and smart grids, compiling TMCnet's weekly e-Newsletters on those topics, as well as the cable industry. To read more of Kelly's articles, please visit her columnist page.
Edited by Kelly McGuire