SAN FRANCISCO, Feb. 25 (Xinhua) -- U.S. leading cloud-based software company Salesforce said Tuesday its revenue rose 35 percent to 4.85 billion U.S. dollars in the fourth quarter ended on Jan. 31, 2020.
The American customer relationship management (CRM) service provider posted sales revenue of 17.1 billion dollars for Fiscal Year 2020, an increase of 29 percent year-on-year.
Salesforce said its subscription and support revenues for the quarter were 4.56 billion dollars, up 35 percent year-on-year, while professional services and sales from other sectors totaled 288 million dollars for the three-month period, a growth of 26 percent year-on-year.
The San Francisco-based CRM giant reported a loss of $248 million or 46 cents a share for the quarter compared with a net income of $362 million from the year-ago quarter.
Keith Block has stepped down as co-chief executive officer, Salesforce said Tuesday, leaving Marc Benioff as the company's sole CEO.
Salesforce is raising its revenue guidance for the first quarter of Fiscal 2021, which will range between 21 billion and 21.1 billion dollars, with adjusted earnings per share expected to be 3.16 to 3.18 dollars.
"Our Q4 and FY20 results were phenomenal. We are delighted to raise our revenue guidance for FY21 by 200 million dollars to 21.1 billion dollars at the high end of the range, while expanding our operating margin," said Benioff.
The company said the 2021 revenue guidance will be impacted by its purchase of Vlocity, a leading provider of industry-specific cloud and mobile software built on the Salesforce platform.
Salesforce announced the transaction of the 1,000-employee startup, also based in San Francisco, on Tuesday, saying the acquisition is expected to close during the second quarter of Fiscal 2021.
