By Yasin Ebrahim
Investing.com - Salesforce.com reported Tuesday second-quarter results that beat analysts' forecasts on both the top and bottom lines,
Salesforce.com (NYSE:CRM) was up 5% in after-hours trade.
Salesforce.com announced earnings per share of $1.44 on revenue of $5.15B. Analysts polled by Investing.com anticipated EPS of $0.67 on revenue of $4.9B.
"Our success in the quarter brought all of this together with the power of our Customer 360 platform, the resilience of our business model, putting our customers first and doing our part to take care of all of our stakeholders. We know that together we have an opportunity to emerge from these times even stronger," the company said.
Subscription and support, which makes up the bulk of growth, saw revenue for the quarter rise 29% to $4.84 billion. Professional services and other revenues for the quarter were $0.31 billion, an increase of 23% year-over-year.
Looking ahead, the company sees third-quarter revenue between $5.24 billion to $5.25 billion, up approximately 16% annually.
The company raised its fiscal 2021 revenue guidance to $20.7 billion from $20.8 billion, representing expectations for an increased within a range of 21% to 22% year over year.
Salesforce.com shares are up 32.83% from the beginning of the year, still down 1.04% from its 52 week high of $218.30 set on August 25. They are outperforming the S&P 500 which is up 6.59% from the start of the year.
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