salesforce.com, inc. (NYSE: CRM) shares rose Wednesday after the company reported stronger-than-expected results for its third quarter and raised full-year 2019 guidance.
The San Francisco-based salesforce reported otal third-quarter revenue was $3.39 billion, an increase of 26% year-over-year, and 26% in constant currency.
Subscription and support revenues were $3.17 billion, an increase of 26% year-over-year. Professional services and other revenues were $224 million, an increase of 15% year-over-year.
Third quarter GAAP diluted earnings per share was $0.13, and non-GAAP diluted earnings per share was $0.61. Mark-to-market accounting of the company's strategic investments, required by ASU 2016-01, benefited GAAP diluted earnings per share by $0.07and non-GAAP diluted earnings per share by $0.06.
CRM also reported that cash generated from operations for the third quarter was $143 million, an increase of 14% year-over-year. Total cash, cash equivalents and marketable securities ended the third quarter at $3.45 billion.
Full-year guidance for 2019 revenues proved to be $13.23 - $13.24 billion, while GAAP Earnings per Share registered at $1.06 - $1.07
According to co-CEO Keith Block, "Given the strength of this quarter's results and the incredible customer demand we are seeing, we are again raising our FY19 revenue guidance and initiating our full year fiscal 2020 revenue guidance at $16 billion at the high end of the range.
"Companies across every industry, in every geography have a mandate to digitally transform their businesses and are turning to Salesforce as a strategic partner."
Shares began Wednesday up $5.56, or 4.4%, to $133.10
Related Stories
