Salesforce Just Crushed Profit Estimates and Gave Wall Street More Bull Ammo

Salesforce blew away Wall Street profit forecasts for the second quarter on Wednesday. Here's a quick analysis of the quarter.
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Salesforce (CRM) - Get Report retains the title as the king of the cloud (or, a 'Cloud King' as TheStreet's founder Jim Cramer calls them)

The cloud computing giant smashed Wall Street profit forecasts on Wednesday. Second quarter earnings came in at 71 cents a share, beating forecasts for 47 cents a share. The company saw strength in all parts of its cloud business and within regions.

It will be hard to sell the news on the red-hot Salesforce after this type of quarter and ahead of Dreamforce in September. Shares ran up 47% year to date ahead of the results. 

Salesforce is a holding in Jim Cramer's Action Alerts PLUS member club. The stock is also Real Money's 'Stock of the Day' on Thursday.