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6/4, 10:07 PM (Source: TeleTrader)
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Salesforce Q1 revenue up 24% to $3.74 billion

American cloud-based software company Salesforce.com announced on Tuesday its revenue in the first quarter of fiscal 2020 stood at record $3.74 billion, up 24% compared to the same three-month period last year. Subscriptions and support revenues also added 24% annually to reach $3.50 billion, while professional and other services generated $241 million, a 23% increase.

At the same time, the company said it earned $0.49 per share in the first quarter, while cash generated from operations amounted to $1.97 billion, 34% more year-on-year.

"Our strong revenue growth in the quarter reflects the strength of our business and the tremendous demand we're seeing from customers worldwide," Keith Block, co-CEO of Salesforce said. "Companies of every size and industry are undergoing a digital transformation to better serve their customers and they are choosing Salesforce as their partner."

Breaking the News / FH