, inc. (NYSE:CRM) released its latest earnings report after closing bell today, posting earnings of 13 cents per share, excluding items, on $1.32 billion in revenue. Analysts had been expecting earnings of 12 cents per share on $1.29 billion in revenue. logo

“ continues to be the fastest growing top 10 software company with 38% year-over-year growth in revenue, and more than 30% year-over-year growth in deferred revenue and operating cash flow in the second quarter,” said Marc Benioff, Chairman and CEO of, in a statement.

Breaking down Salesforce’s earnings

GAAP losses per share were 10 cents. The company said its non-GAAP estimate excludes stock-based compensation expenses, amortization, and net non-cash interest expenses.

Salesforce reported $2.35 billion in deferred revenue, which is a 31% year over year increase. In addition, Salesforce saw about $5 billion in unbilled deferred revenue, which is a 32% increase. Salesforce reported $1.23 billion in subscription and support revenues, a 37% increase. Salesforce saw $86 million in professional services and other revenues, which is a 58% year over year increase. The company also reported operating cash flow of $246 million, a 34% increase. At the end of the quarter, Salesforce had $1.67 billion in cash, cash equivalents and marketable securities.

Salesforce raises full year guidance

For the third fiscal quarter of 2015, the CRM platform guided for revenue of between $1.365 billion and $1.37 billion, which would be about a 27% year over year increase. GAAP losses are expected to be between 13 cents and 12 cents per share, while the company expects non-GAAP earnings to be between 12 cents and 13 cents per share.

Salesforce also increased its full fiscal 2015 revenue guidance by $30 million, bringing the new projected range to between $5.34 billion and $5.37 billion, which would be an increase of between 31% and 32% year over year. Since the company initiated fiscal 2015 guidance last year, the company has increased it by $170 million.

The CRM platform expects GAAP losses per share for the full year to be between 48 cents and 46 cents per share and non-GAAP earnings per share to be between 50 cents and 52 cents per share.