Salesforce Reports 33% Revenue Increase, CFO Retiring
- Published in Industry News
Salesforce announced its fiscal fourth quarter and full fiscal year results, which ended Jan. 31, 2014. The report highlighted a full year revenue of $4.07 billion, a 33% increase year-over-year.
Total Q4 revenue was $1.15 billion, an increase of 37% year-over-year, and benefited in part by the acquisition of ExactTarget, which closed in July 2013. Subscription and support revenues were $1.08 billion, an increase of 37% year-over-year. Professional services and other revenues were $70 million, an increase of 43% year-over-year.
Other results include:
- A deferred revenue of $2.52 billion, a 35% increase year-over-year;
- A full year operating cash flow of $875 million, up 19% year-over-year;
- Deferred revenue of $2.52 billion, an increase of 35% year-over-year, benefited in part by the acquisition of ExactTarget.
The company expects first fiscal quarter revenue for 2015 between $1.20 billion and $1.21 billion (a potential 36% increase) while the projected revenue for the full 2015 fiscal year is between $5.25 billion and $5.3 billion, a 36% increase year-over-year.
Salesforce also announced that Graham Smith, the company’s CFO, will retire in March 2015. Smith has been with the company since 2008.