Salesforce (CRM) saw its loss widen to $51.44 million, or $0.07 a share for the quarter ended Jan. 31, 2017. In the previous year period, the company reported a loss of $25.51 million, or $0.04 a share. On the other hand, adjusted net income for the quarter stood at $196.33 million, or $0.28 a share compared with $129.66 million or $0.19 a share, a year ago.
Revenue during the quarter grew 26.78 percent to $2,293.99 million from $1,809.40 million in the previous year period. Gross margin for the quarter contracted 277 basis points over the previous year period to 72.71 percent. Operating margin for the quarter stood at negative 1.02 percent as compared to a positive 1.14 percent for the previous year period.
Operating loss for the quarter was $23.34 million, compared with an operating income of $20.56 million in the previous year period.
However, the adjusted operating income for the quarter stood at $295.26 million compared to $218.78 million in the prior year period. At the same time, adjusted operating margin improved 78 basis points in the quarter to 12.87 percent from 12.09 percent in the last year period.
“Salesforce continues to deliver incredible innovation and unprecedented customer success,” said Marc Benioff, chairman and Chief executive officer, Salesforce. “We led the industry as the first to bring cloud, social and mobile to CRM, and now with our latest release we are making artificial intelligence available to millions of Salesforce users with Einstein.”
For the first-quarter 2018, Salesforce expects revenue to be in the range of $2,340 million to $2,350 million. the company expects diluted loss per share to be in the range of $0.03 to $0.02 and its adjusted diluted earnings per share to be in the range of $0.25 to $0.26.
For fiscal year 2018, Salesforce expects revenue to be in the range of $10,150 million to $10,200 million. the company expects diluted earnings per share to be in the range of $0.05 to $0.07 and its adjusted diluted earnings per share to be in the range of $1.27 to $1.29.
Operating cash flow improves significantly
Salesforce has generated cash of $2,162.20 million from operating activities during the year, up 29.31 percent or $490.12 million, when compared with the last year. The company has spent $2,684.34 million cash to meet investing activities during the year as against cash outgo of $1,487.88 million in the last year.
Cash flow from financing activities was $997.70 million for the year, up 1,263.87 percent or $924.55 million, when compared with the last year.
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