Salesforce.com Inc Q1 Profit Decreases, but beats estimates

Salesforce.com Inc (CRM) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $28 million, or $0.30 per share. This compares with $469 million, or $0.50 per share, in last year's first quarter.

Excluding items, Salesforce.com Inc reported adjusted earnings of $0.98 billion or $0.98 per share for the period.

Analysts on average had expected the company to earn $0.94 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 24.3% to $7.41 billion from $5.96 billion last year.

Salesforce.com Inc earnings at a glance (GAAP) :

-Earnings (Q1): $28 Mln. vs. $469 Mln. last year.
-EPS (Q1): $0.30 vs. $0.50 last year.
-Analyst Estimates: $0.94
-Revenue (Q1): $7.41 Bln vs. $5.96 Bln last year.

Next quarter EPS guidance: $1.01 - $1.02
Next quarter revenue guidance: $7.69 - $7.70 Bln
Full year EPS guidance: $4.74 - $4.76
Full year revenue guidance: $31.7 - $31.8 Bln

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