salesforce.com (CRM) Tops Q1 EPS by 1c; Bumps Outlook
salesforce.com (NYSE: CRM) reported Q1 EPS of $0.24, $0.01 better than the analyst estimate of $0.23. Revenue for the quarter came in at $1.92 billion versus the consensus estimate of $1.89 billion.
"We're thrilled that first quarter revenue growth accelerated to 28% year-over-year in constant currency," said Marc Benioff, chairman and CEO, Salesforce. "Given the strong response to our Customer Success Platform, we are raising our fiscal 2017 revenue guidance by $80 million to reach $8.2 billion at the high end of the range."
"Operating cash flow grew 43% in the first quarter from a year ago, surpassing the $1 billion quarterly milestone for the first time in our company's history," said Mark Hawkins, CFO, Salesforce. "We also expanded our non-GAAP operating margin by 283 basis points, which is our eighth consecutive quarter of year-over-year improvement."
"Our first quarter was an extremely strong start to our fiscal year, with outstanding execution across the board," said Keith Block, vice chairman, president and COO, Salesforce. "We continued to drive larger and more strategic transactions in the first quarter, including yet another 9-figure transaction. No other enterprise software company is building strategic relationships of this size and scale—and certainly not at this pace."
GUIDANCE:
salesforce.com sees FY2017 EPS of $1.00-$1.02, versus the consensus of $1.01. salesforce.com sees FY2017 revenue of $8.16-8.20 billion, versus the consensus of $8.12 billion.
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