|Salesforce.com CEO Marc Benioff|
NEW YORK ( TheStreet) -- Salesforce ( CRM) jumped over 7.4% in after-hours trading Thursday after posting fourth-quarter earnings that exceeded Wall Street expectations. The cloud-based software provider reported adjusted earnings of 31 cents per share on revenue of $457 million. Analysts had been anticipating earnings of 26 cents per share on sales of $453 million.
The company also raised its full year revenue guidance to $2.03 billion to $2.05 billion, up from a prior forecast range of $1.97 billion to $2 billion. Salesforce specializes in cloud computing services, which run software applications on remote servers for clients. Proponents of cloud computing say it offers faster deployment time for applications, without the need for businesses to make expensive hardware purchases. The company has also moved into the enterprise social media and collaboration space, namely through its Chatter application, which provides a Facebook-like experience for business customers. Salesforce added 5,100 new customers during the quarter, increasing its base 27% from a year ago to 92,300. --Written by Olivia Oran in New York. >To follow the writer on Twitter, go to http://twitter.com/Ozoran. >To submit a news tip, send an email to: firstname.lastname@example.org.