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Salesforce.com raises forecast after revenue beats Street

21
May
2014

(Reuters) – Salesforce.com Inc raised its full-year forecast after reporting a better-than-expected 37 percent rise in quarterly revenue, helped by higher demand for its sales and marketing software. Chief Executive Marc Benioff, who shrugged off for years Wall Street’s calls to turn a bigger profit, said in February that the company would aim to improve margins. Analysts on an average had expected earnings of 10 cents per share on revenue of $1.21 billion, according to Thomson Reuters I/B/E/S. Unbilled deferred revenue, a critical measure of contracts closed with business customers, which remain off-balance sheets, rose 33 percent to $4.80 billion.

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