Salesforce.com, Inc. (NYSE: CRM) on Wednesday reported fourth-quarter earnings that topped analysts’ estimates and raised its sales outlook for 2019 fiscal year.
The San Francisco-based company said total revenue rose 24 percent to $2.85 billion in the quarter January 31, 2018. Analysts polled by Thomson Reuters had estimated revenue of 2.81 billion.
Excluding certain items, the company earned 35 cents per share, also topping analysts’ estimate of 33 cents per share.
“We had an outstanding quarter of growth that propelled Salesforce over the $10 billion revenue milestone for the year,” said Marc Benioff, chairman and CEO, Salesforce. “No other enterprise software company has achieved this scale faster than Salesforce. Our relentless focus on customer success continues to strengthen our position as the global leader in CRM.”
The better-than-expected financial results were driven by strong demand for its cloud-based software and robust growth in oversea market. Sales form Europe jumped 48 percent to $535.8 million in the fourth quarter. The company now is expanding its operation in Canada, the U.K. and Japan.
Salesforce shares hit an new all-time high of 122.47 in the early trading on Thursday. It is now trading 3.2 percent higher at $119.84. The stock was up 17 percent this year.
The company raised its full year revenue guidance to be $12.6 billion to $12.65 billion.