Salesforce Shares Soar 12% as Revenues See Double-Digit Jump

Shares of salesforce.com (CRM) ended Thursday's trading day up almost 12%, making it TheStreet's move of the day.
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Shares of salesforce.com (CRM) ended Thursday's trading day up almost 12%, making it TheStreet's Move of the Day. The cloud computing company reported fiscal 2015 fourth quarter results on Wednesday, posting a profit of $0.14 on sales of $1.44 billion, meeting analyst forecasts on both the top and bottom lines. Now revenue was up 26% during the quarter, but was slightly damaged amid the strengthening dollar. Subscription revenue jumped 31% compared to the same quarter last year, while professional services revenue saw a 46% increase. As for full year fiscal 2016 guidance, revenue is expected to rise 20-21% year-over-year, which accounts for FX charges between $175 and $200 million. Shares of Salesforce are trading at $70.24 per share and are up 18.6% since the start of the year. TheStreet's Scott Gamm reports from New York.