CRM giant Salesforce announced another record quarter this week as it took home over£1.5bn in revenue for Q1 2016, up from £1.44bn the previous quarter. The company claims it is on track to become the first pure-play enterprise cloud company to surpass the $6bn annual run rate mark.
At £1.51bn for the quarter revenue is up 23 per cent year-on-year and the company also reported deferred revenue of $3.06bn, up 31 per cent year-on-year.
Salesforce also raised its fiscal year 2016revenue guidance to £6.55bn, up from £6.52, and said it is on track to be the first pure-play enterprise cloud company to surpass the £6bn annual run rate mark. Full fiscal year 2015 revenue was $5.37bn.
“Salesforce has surpassed the $6 billion annual revenue run rate faster than any other enterprise software company, and our current outlook puts us on track to reach a $7 billion revenue run rate later this year,” said Marc Benioff, chairman and chief executive officer, Salesforce.
“Our goal is to be the fastest to reach $10 billion in annual revenue,” Benioff said, echoing his call-to-arms from the previous two quarters.
Salesforce has recently been the subject of a series of rumours suggesting its potential acquisition by another enterprise technology firm, although Salesforce has repeatedly denied commenting on the speculation. If the rumours are true it’s almost certain another record fiscal quarter would send the asking price to even greater, eye-watering heights.