Salesforce has reported a 32 percent rise in revenue to $5.37bn for its fiscal year ending 31 January 2015 after a surge in subscriptions to the firm's cloud services.
The results revealed that Salesforce generated revenue of $1.4bn in its fourth quarter, topping a year of strong growth for the company, according to chief executive Marc Benioff.
"Salesforce reached $5bn in annual revenue faster than any other enterprise software company, and now it's our goal to be the fastest to reach $10bn," he said.
Repeat subscriptions and support for Salesforce's cloud-based customer relationship management platform continued to drive the majority of the revenue, representing over $5bn for the year, a hike of around $1.2bn over the previous year.
The Sales Cloud platform generated $2.4bn, and the Service Cloud generated $1.3bn. Salesforce also reported revenue growth in its professional services division to $359m.
Revenues in Europe jumped by $243m to $984m, although the bulk of Salesforce's income, $3.8bn, came from the US.
Despite the healthy revenue growth, Salesforce reported a $30m rise in net losses to $262m.
Losses in the final quarter contributed $65m to the yearly total, flipping the reduction in losses achieved in the third quarter.
This is down to operating expenses and the increased sum of $639m channelled into the firm's marketing and sales division.
Salesforce also has a significant amount of deferred revenue in money billed to customers but not yet collected, which jumped by 32 percent to $3.3bn.
The company has $5.7bn in unbilled revenue from long-term contracts not currently on its balance sheets, meaning that Salesforce generated unofficial revenue of over $10bn in 2015.
This additional revenue many not be collected in the next year or two, giving Salesforce forecasted revenues of $6.4bn to $6.5bn for its fiscal 2016.
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