Salesforce.com CEO Marc Benioff
In about three months, Salesforce will post its first $1 billion quarter, CEO Marc Benioff told analysts during a quarterly conference call.
"I am thrilled to announce that just four years after delivering our first $1 billion year, we expect to breakthrough our first ever $1 billion quarter in the third quarter of fiscal 2014, our next quarter, an amazing milestone for Salesforce.com and for the entire cloud computing industry," he told analysts at the company's quarterly conference call last week.
The jump in revenue will come in large part from the purchase of ExactTarget. ExactTarget is expected to contribute $140 million to $145 million revenue to the full year results.
ExactTarget was Salesforce.com's biggest-ever acquisition and it paid a hefty premium for the company at $33.75 a share, about 50 percent above ExactTarget’s price at the time. So Benioff is naturally eager to convince Wall Street analysts of the wisdom of that buy.
With ExactTarget's revenues, Salesforce raised fiscal 2014 full-year guidance to between $4 billion and $4.03 billion (year-over-year growth of 31% to 32%).
Investors are happy even though the company is also projecting that its losses will continue, (GAAP net loss per share for the year is expected to be -44 cents to -42 cents).
The stock is still trading at almost $49, near the all-time high of $ 50.15 reached on Friday.
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