Salesforce Doubles Q2 Profit, Sees Strong Rate Of Customer Acquisitions

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Salesforce.com reported strong second quarter earnings today, boosting year-over-year revenue by
20 percent, to $316.1 million. For second quarter, Salesforce.com reported profits of $21.2 million, or 17 cents per share, up from $10 million, or 8 cents per share, a year earlier.

Salesforce managed to add 3,900 customers during the quarter to finish at approximately 63,200 customers, up 32 percent from a year ago. The new acquisitions include insurance company Marsh and the Japanese government. Salesforce Founder and CEO Marc Benioff emphasized that while enterprise customer growth remained steady, the attrition rate of SMBs was high in the second quarter.

Benioff also mentioned strong growth (175 percent growth in clients) in Salesforce’s Service Cloud product, a customer service SaaS applications launched earlier this year.

The companyalso raise the full year revenue guidance it provided in May, with revenue now expected to be $1.27 billion to $1.28 billion.

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