EmailSalesforce.com (CRM $113.95 -12.14) reported third quarter earnings of $0.34 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.31.
Revenues rose 36.2% year/year to $584.3 million versus the $571.94 million consensus.
Subscription and support revenues were $549 million, an increase of 36% on a year-over-year basis. Professional services and other revenues were $35 million, an increase of 34% on a year-over-year basis. Deferred revenue on the balance sheet as of October 31, 2011 was $918 million, an increase of 32% on a year-over-year basis. The company issued guidance for the fourth quarter with EPS of $0.39-0.40, excluding non-recurring items, versus the $0.40 Capital IQ consensus with revenues of $620-624 million versus the $609.74 million consensus.
The company issued upside guidance for fiscal year 2013 with revenues of $2.88-2.92 billion versus the $2.78 billion consensus.
The weakness in CRM is being attributed to a weaker than expected bililngs metric.
