By Yasin Ebrahim
Investing.com - Salesforce.com (NYSE:CRM) reported Thursday first-quarter results that beat analysts' forecasts and the enterprise-software company raised its forecast for the full-year on the back of strong demand.
Salesforce.com shares gained 1.50% in after-hours trade following the report.
"With incredible momentum throughout our core business, we’re raising our revenue guidance for this fiscal year by $250 million to approximately $26 billion and non-GAAP operating margin to 18 percent," the company said in a statement.
Salesforce.com announced earnings per share of $1.21 on revenue of $5.96 billion. Analysts polled by Investing.com anticipated EPS of 88 cents on revenue of $5.89 billion.
The beat on top line comes as the company saw "record levels of new business and strength across all products, regions, and customer sizes."
Subscription and support, which makes up the bulk of growth, saw revenue for the quarter rise 21% to $5.54 billion. Professional services and other revenue for the quarter was $430 million, an increase of 47% year-over-year.
For the second-quarter, the revenue was guided in a range of $6.22 billion to $6.23 billion, up approximately 21% year-on-year.
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