Salesforce Reports Record Revenues

SAN FRANCISCO — Salesforce (CRM) announced results for its fiscal fourth quarter and full fiscal year ended January 31, 2016. Shares in the company were up 8% in trading on Thursday.

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www.salesforce.com.

Salesforce delivered the following results for its fourth fiscal quarter and full fiscal year 2016:

Revenue:  Total Q4 revenue was $1.81 billion, an increase of 25% year-over-year, and 27% in constant currency.  Subscription and support revenues were $1.68 billion, an increase of 25% year-over-year.  Professional services and other revenues were $127 million, an increase of 28% year-over-year.

Full fiscal year 2016 revenue was $6.67 billion, an increase of 24% year-over-year, and 27% in constant currency.  Subscription and support revenues were $6.21 billion, an increase of 24% year-over-year.  Professional services and other revenues were $462 million, an increase of 28% year-over-year.

“By any measure, this was a spectacular finish to the year with 27% revenue growth in constant currency for the fourth quarter, and for the full year,” said Marc Benioff, chairman and CEO, Salesforce. “We are raising our fiscal year 2017 revenue guidance to $8.12 billion at the high end of our range — unprecedented growth for a company of our size and scale.”

“We hit an all-time high in large transactions in fiscal 2016 as more and more companies look to Salesforce as their trusted advisor,” said Keith Block, vice chairman, president and COO, Salesforce. “The tremendous response to our customer success platform is driving exceptional growth for Salesforce across every region, every cloud and every industry.”

The company finished the fiscal year with total cash, cash equivalents and marketable securities finished the year at $2.73 billion.

Revenue for 2017 is projected to be approximately $8.08 billion to $8.12 billion, an increase of 21% to 22% year-over-year.