Salesforce has posted revenues of $1.51bn for the first quarter of its 2016 fiscal year, a 23 percent increase on the same period last year.
The vast majority of the firm’s income came from subscription and support revenues, at $1.41bn, a rise of 22 percent year over year. Professional services and other revenues reached a more lowly $106m, although this was still up 33 percent year over year.
The growth helped Salesforce to a surprise profit for the quarter of a modest $4.1m. This may be small, but it represents a notable turnaround from the $96m loss in the same period last year.
Salesforce also said that the company is on track to post revenues of over $6bn for its 2016 financial year, which Salesforce founder and CEO Marc Benioff said will make it the biggest cloud software vendor in the market.
"Salesforce has surpassed the $6bn annual revenue run rate faster than any other enterprise software company, and our current outlook puts us on track to reach a $7bn revenue run rate later this year," he said.
"Our goal is to be the fastest to reach $10bn in annual revenue."
Salesforce expects the company's Q2 2016 revenues to rise again to around $1.59bn to $1.6bn, an increase of 21 percent year over year.
Benioff said during an earnings call to discuss the results that the firm is growing faster than rivals SAP and Oracle, as the war of words between the tech giants shows no signs of abating.
"Salesforce Service Cloud displaced SAP in the quarter and is now the market leader in customer service and support. Sorry about that, SAP,” he said.
The comments came after SAP ruled itself out of the bidding for Salesforce amid rumours that buyers for the company are circling. Microsoft was named as another potential buyer, but no mention was made of these rumours during the earnings call.
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