8/22/2019, 10:06 PM (Source: TeleTrader)
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Salesforce's revenue jumps 22% to $4B in Q2 Inc. announced on Thursday that its revenue in the second quarter of fiscal 2020 amounted to $4 billion, up 22% compared to the same three-month period last year and topping expectations. Subscriptions and support revenues also surged 22% annually to reach $3.75 billion, while professional and other services generated $252 million in revenue, marking a 14% increase from last year.

The American cloud-based software company's GAAP diluted earnings per share dropped 71% year on year to $0.11, while adjusted EPS fell 7% to $0.66, but were still significantly above market estimates.

"Following an outstanding quarter, we're raising our FY20 revenue guidance to $16.9 billion at the high-end of the range," CEO Marc Benioff stated. "With our Customer 360 vision, Einstein AI and the millions of Trailblazers innovating on our platform, Salesforce has never been better positioned for the future," he added.

Salesforce shares rallied 7% in after-hours trading on better-than-expected results and improved guidance.

Breaking the News / NP