NEW YORK (TheStreet) -- Shares of Salesforce.com  (CRM - Get Report) are up 6% to $82.56 in after-hours trading on Wednesday after reporting 2017 first quarter earnings and revenue that beat analysts' forecasts.

After the market close, the cloud computing company reported adjusted earnings of 24 cents per share vs. analysts' estimates for 23 cents per share.

Revenue increased 27% year-over-year to $1.92 billion in the most recent quarter, above analysts' estimates for $1.89 billion.

Salesforce.com expects that adjusted earnings will be between 24 and 25 cents per share during the second quarter, while revenue will range between $2.005 billion and $2.015 billion. Analysts are looking for earnings of 25 cents per share on revenue of $1.98 billion.

For the full year, Salesforce.com has forecast for adjusted earnings between $1 and $1.02 per share on revenue between $8.16 billion and $8.20 billion. Analysts expect earnings of $1.01 per share on $8.12 billion in revenue. 

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.

Salesforce.com's strengths such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth are countered by the fact that the company's return on equity has been disappointing.

You can view the full analysis from the report here: CRM

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.