Company announced strong revenue growth and met market expectations. But stock declined more than 15% as Deferred Revenue grow was slow. Deferred Revenue are viewed by the investor community as a metric that signals new contract bookings, acting as a leading indicator of revenue growth. The earnings release is here -
Salesforce.com was identified as having the greatest impact on the software development landscape, along with Google, IBM, and the Eclipse Foundation. Its work on developing AppExchange was honored. The citation joins those given by Forbes, Wired Magazine, and the CECP.
Salesforce.com posts record first-quarter results, with record revenue of $162 million (up 55% year-over-year), first-quarter operating cash flow of $37 million (up 197% year-over-year), and deferred revenue of $296 million (up 62% year-over-year). The results reflected growing business, as the number of customers paying for the company’s Web-delivered business software rose 42 percent.
InvisibleCRM announced that it is a member of the charter class of salesforce.com’s AppExchange Incubator. InvisibleCRM looks to bridge the gap between CRM and Microsoft’s Outlook software and Windows desktop in order to update, store, and transfer customer information between the desktop and the CRM system.
Salesforce.com Inc. acquires startup Koral Inc., a Web 2.0 enterprise content management service provider, for an undisclosed amount. Their product, which allows documents to be worked on remotely by multiple users simultaneously, becomes Salesforce ContentExchange, an innovative content management system which revolutionizes the way corporations view Web 2.0 applications. It is part of Salesforce.com’s AppExchange suite of services.
Salesforce.com announced estimated revenue for Q1 2008 to be between $155 million to $157 million and also upped its estimated full year revenue outlook to about $720 million. With stock reaching near $50 per volume the previous week, the estimate was confirmed by numerous Wall Street analysts.