Salesforce.com Inc.'s (NYSE: CRM) fiscal third quarter profit blew up following higher sales and strong customer growth. Shares in the company however fell 5.9% to $61.87 in afterhours trading. The company's earnings were in line, revenue topped their forecast and once again the company raised their fiscal-year guidance. The company's total third quarter revenue was $330.5 million which is an increase of 20% on a year over year basis.
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If Salesforce.com keeps raking in the sales, it is not too far-fetched to see the company's prediction of outdueling Microsoft come to life. Microsoft Corp. experienced a decline in sales of 14% for their Fiscal First Quarter ending September 30, 2009. For Salesforce.com's third quarter 2009 results the received an increase of 20% on a year over year basis. Salesforce.com's CEO Marc Benioff has said, "...the fact is that Microsoft is being out hustled by everyone." If Saleforce.com keeps on showing increased sales and growth we may yet see who the bigger hustler is, Marc Benioff or Bill Gates.
The company's stock which reached its 52 week high on Tuesday, has tripled from their two-year low last November. The company predicts 2009 earnings of 62-62 cents per share on revenue of $1.29 billion.
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