Salesforce.com: Q1 Net Loss Of $19.5M On Sales Of $695M. Benioff Says It?ll Have Its First $3B Year FY2013

The ongoing interest and use of cloud-based services has brought a generally good set of results to one of the leaders in the enterprise software-as-a-service business.?Salesforce.com released Q1 earnings just now and in a quarter that is traditionally slower for the company, it swung to a net loss of $19.5 million, compared to a net profit of $530 million a year ago. Nevertheless, total revenues for the quarter were $695 million and earnings per share of $0.37 -- beating estimates from analysts as polled by First Call, who expected adjusted EPS of $0.34 and $678.21 million for revenue. The figures were also better than Saleforce's own guidance of $0.33-$0.34 for the EPS and revenue of $673 million - $678 million. The sales were an increase of 38 percent on revenues for the same period a year ago, and?Marc Benioff, chairman and CEO, salesforce.com, says that the company is on track for its first $3 billion year; last year the company broke new ground with $2 billion in sales.

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