Salesforce Projects Annual Revenue That May Exceed Estimates

(Bloomberg) -- Salesforce.com Inc. projected fiscal 2019 revenue that could exceed expectations, reassuring Wall Street that the software company can keep delivering on growth.

Revenue will be $12.45 billion to $12.5 billion in the year ending in January 2019, Salesforce said Monday in a statement. That may top estimates of $12.45 billion, according to data compiled by Bloomberg. Shares gained about 2.2 percent in extended trading after the forecast was released.

The sales estimate would mean year-over-year growth of about 20 percent at the high end of the forecast, the company said. Salesforce, the maker of software that helps businesses manage customer relationships, provided the guidance during the first day of its annual Dreamforce event in San Francisco, touting new products and a fresh partnership with Google’s cloud services.

To contact the reporter on this story: Brian Womack in San Francisco at bwomack1@bloomberg.net.

To contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew Pollack

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