Salesforce.com raises full year outlook

Salesforce.com Inc (CRM.N) on Thursday posted a better-than-expected quarterly profit and raised its full-year outlook as more clients signed up for cloud-based computing services.

Shares of the company rose 7.9 percent in after-hours trading as it also reported adding 5,100 net new customers in the quarter.

Salesforce, which competes with SAP AG (SAPG.DE), Microsoft Corp (MSFT.O), Oracle Corp (ORCL.O) and NetSuite Inc (N.N), specializes in cloud computing services which run software applications on its computer servers on behalf of clients.

The company raised its full fiscal year revenue forecast to a range of about $1.595 billion to about $1.6 billion. It raised its non-GAAP earnings per share forecast to a range of about $1.15 to $1.17 from $1.13 to $1.15.

Read Full Article from Reuters

- Posted: 2010-08-19 21:56:36

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