Customer Relationship Software Provider SalesForce.Com Shares Skyrocket

Shares of salesforce.com, which manages customer relationship data for corporations, jumped 19%, as the San Francisco-based firm beat consensus estimates across the board. This was despite reported profit loss of $145,000 for the second quarter.

Revenue rose 64% to $118 million, ahead of the Street’s estimate of roughly $114 million.

“The on-demand revolution that we have been talking about for the past seven years continues to transform our industry,” said salesforce.com Chairman Marc Benioff. via Forbes

SalesForce is here with over 500,000 subscribers while its on-demand competition is still in the clouds.

SalesForce was able to re-accelerate revenue growth, add more subscribers than ever before and generate high levels of cash in the face of greatly increased competition from Microsoft & Oracle. Personally I think the perceived competition from Microsoft (Live CRM) is more FUD than reality as is also demonstrated this quarter by SalesForce performance.