revenues jump almost 40%

News revenues jump almost 40%

Karl Flinders

Software-as-a-service supplier has reported strong growth in the final quarter of its latest financial year.

For the three-month period, ended January 31, the company reported sales worth $632m. This was a 38% increase on the same period 12 months ago.

Full-year sales reached $2.27bn, 37% higher than the previous year. added 2,500 global workers, as it benefited from the wave of businesses moving to cloud-based subscription services to reduce capital investments in IT.

Marc Benioff, chairman and CEO of said the company expects to reach £3bn in sales in in its next 12-month financial period.

"Given the strong customer response to the social enterprise, we're excited to raise our guidance today, which puts us on pace to exceed the $3bn revenue run rate during FY13 [financial year 2013]."

Despite adding customers to its subscription-based services the company reported a loss of $4.1m in the quarter, compared to a profit of $10.9m a year ago. This was the result of one-off charges, said the supplier.

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