Salesforce.com results beat Street
Founded in 1999 as a sales management software provider, Salesforce now also offers human resource management tools. In recent months, Benioff has been aggressively acquiring companies and pitching a newly expanded suite of social media products, dubbed Social Enterprise, which, for example, lets companies track what customers are saying about them on Twitter and Facebook.
Benioff told analysts on a conference call on Tuesday that Radian6, a company acquired by Salesforce in 2011 for $326 million, will generate more than $100 million in revenue next year.
We've moved successfully from a single product company to a multi-product company, Benioff said.
Next year, he said, Salesforce will continue to integrate its recent acquisitions - including social marketing company Buddy Media, Salesforce's largest deal to date, for $689 million - and further promote its platform so that third-party developers will write programs for Salesforce products.
Salesforce, whose shares trade at nearly 100 times projected earnings versus 36 times for the software sector, gave its first forecast for its 2014 fiscal year on Tuesday, projecting revenue between $3.8 billion and $3.85 billion, in line with analysts' average estimate of $3.83 billion.
The company will likely be hotly pursued by larger enterprise computing giants like Oracle and SAP AG , which have scooped up smaller companies and rolled out new features to compete with Salesforce.
At an event in Madrid earlier this month, SAP unveiled a new customer relationship management offering dubbed 360 Customer, which was viewed as the German software giant's latest effort to
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