Q4 numbers hit by charges

News Q4 numbers hit by charges

Simon Quicke

Cloud CRM specialist saw its net income halved year-on-year in its fiscal fourth quarter as it swallowed costs related to stock-based compensation.

Despite that knockback, having to watch net income drop to $10.9m for the fourth quarter, ended 31 January , compared to $20.4m a year earlier, the vendor remains the flag carrier for the cloud industry.

Revenue  increased by 29% from $354 a year earlier to $456.9m, subscription and support revenue rose by 31% to $429m and professional services also grew by 6% to $28m.

What skewed the Q4 numbers slightly was a $42m stock-based compensation charge but where the CEO Marc Benioff, chairman and CEO of, wanted to concentrate his thoughts were on the revenue ambitions.

For the full fiscal year the vendor hit a $1.8bn annual run rate and Benioff revised the forecasts to take it through the $2bn barrier.

"Our current outlook puts on track to be the first enterprise cloud computing company to report more than $2bn in revenue," he said.

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