Questions continue popping up around the tech sector on whether companies are worth their valuations. Yet despite the grumblings of another tech bubble, salesforce showed a record revenue in the second quarter of $546 million, up 38 percent since last year.
According to the press release, it is the first cloud computing company to exceed $2.1 billion annual revenue run rate and their total customers rose to 104,000, up 21,600 or 26% since last year.
“We’re expecting over 40,000 people to register for Dreamforce which takes place in San Francisco later this month. It’s the cloud event of the year where attendees can learn how to supercharge their relationships with employees and customers using social, mobile and open cloud technologies,” said Marc Benioff, Chairman and CEO, salesforce.
Subscription and support revenues were $509 million, an increase of 38% on a year-over-year basis. Professional services and other revenues were $37 million, an increase of 44% on a year-over-year basis.
All of these numbers stack up to a very healthy company. With question marks now swirling about other tech darlings’ valuations (Groupon especially) this should be a bit of welcome news for those hoping to stave off the popping any tech bubbles.
- Toyota leads $1 billion investment in Uber’s self-driving tech division
- Lyft trails Uber in popularity, but it just beat its rival to Wall Street
- The T-Mobile/Sprint merger: Everything you need to know
- How emotion-tracking A.I. will change computing as we know it
- All of Amazon’s U.S. pop-up stores are about to pop off