Salesforce.com CEO a Bit Smugger Than Usual Today
Software is dead."
- Salesforce.com CEO Marc Benioff, Jun. 2000
Salesforce.com (CRM) has seen a fair bit of its value evaporate amid the economy’s downward spiral. But the same cannot be said of its business which is apparently doing quite well. Posting fourth quarter earnings today, Salesforce.com reported record revenue of nearly $290 million with annual sales exceeding $1 billion. Pretty damn good for a cloud computing company weathering a recession. Far better than the Street had expected. Consensus estimates had Salesforce.com earning 7 cents a share. Instead, it earned 11 cents a share. "Salesforce.com is proud to be the first billion dollar cloud computing company," said salesforce.com CEO Marc Benioff. "At a time when capital is precious, big-ticket software purchases just don’t make sense."
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