Salesforce Revenue Outlook Tops Estimates on Enterprise Push
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Salesforce.com Inc. raised its revenue forecast for fiscal 2016, thanks to Chief Executive Officer Marc Benioff’s push into new businesses and bigger deals with long-standing customers.
Sales will be $6.48 billion to $6.52 billion, the company said in a statement Wednesday, up from its prior prediction for $6.45 billion to $6.5 billion. Analysts had projected $6.5 billion, according to the average of estimates compiled by Bloomberg. Billings rose 32 percent to $2.54 billion in the fiscal fourth quarter, which ended Jan. 31, exceeding analysts’ average projection for 25 percent.