Earnings from salesforce.com, inc. (NYSE:CRM) arrived this afternoon after the market closed on Wall Street. The enterprise IT company showed earnings of 9 cents per share for the three month period on revenue totaling $1.08 billion. On today’s market shares in salesforce.com, inc. (NYSE:CRM) trended down and finished the day at $55.46.
In the run-up to the release of this earnings report 40 analysts following salesforce.com, inc. (NYSE:CRM) and surveyed by Bloomberg were looking for earnings of 9 cents per share from the company by consensus. The same group of analysts were expecting the company’s revenue to come in at $1.055 billion for the third quarter.
In the same three months of 2012 salesforce.com, inc. (NYSE:CRM) managed to earn 8 cents per share on revenue totaling $788 million. The consumer relationship management company has seen expenses increase in 2013 as it tries to invest and modernize its platform in the face of a changing technology world. The company is taking this week to launch a new platform, called salesforce1.
That platform will be free to the company’s current clients, and forms just part of a wide range of changes taking place at the company in 2013. Keith Block, who the company recently installed as President and Vice Chairman, has promised to remove inefficiencies from the company’s business model and push business in neglected areas.
2013 has been a substantial year for stock market gains, and salesforce.com, inc. (NYSE:CRM) has benefited from the boom in the price of equities. Stock in the company has increased in value by more than 30% since January 1, beating the close to 26% gained by the S&P 500 in the same period, and staying neck and neck with the gains in the Nasdaq composite.
There is a lot of growth baked into salesforce.com, inc. (NYSE:CRM) stock, and the company will need to hit the right notes for several quarters to come in order to preserve shareholder value. Executives from salesforce.com will host the Dreamforce event tomorrow. The company will offer investors and analysts a look inside the company during the event, and it will launch new products and outline new strategies.