becomes 'first $1bn cloud computing firm'

News becomes 'first $1bn cloud computing firm'

Antony Savvas has posted a big increase in sales for the year, becoming the "first billion-dollar cloud computing company", according to CEO Marc Benioff.

For the year ended 31 January, the software-as-a-service (SaaS) firm reported sales of $1.077bn - an increase of 44% on the previous year.

GAAP diluted earnings per share rose 130% year-on-year to $0.35.

Bottom line net profits increased from $18m to $43m - despite a good jump, not a massive return from overall sales of over $1bn.

Despite the hype around cloud computing, has also downgraded its sales forecasts for the coming year.

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