Salesforce has posted revenues of $1.63bn for the second quarter of its 2016 financial year, a 24 percent year-on-year increase over the same quarter a year ago.
However, the cloud services company reported $852,000 in losses for the period, meaning that Salesforce is back to its trend of seeing big revenue growth but constant losses per quarter, after a surprise $4m in profit reported in its first-quarter results three months earlier.
Contributing to this loss is the huge $793m spent on marketing and selling its cloud services, and $234m on research and development.
The bulk of Salesforce's quarterly revenue was driven by cloud service subscription and support, which contributed $1.41bn to the company's coffers, growing by 22 percent year on year.
Meanwhile, Salesforce's professional services division brought in $106m, an increase of 33 percent year on year.
Salesforce also has a hefty $6bn in unbilled revenue which equates to an increase in 25 percent year on year. Operating cash flow grew by 54 percent to $731m.
The results prompted Salesforce to up its full-year financial forecast for 2016 from $6.52bn to $6.55bn. Salesforce predicts revenues of $1.7bn for the third quarter.
Marc Benioff, chairman and chief executive, touted the company's ambitions to reach significant revenue targets ahead of other cloud technology firms.
"Salesforce has now blown past the $6.5bn annual revenue run rate faster than any other enterprise software company, and we are once again raising our fiscal year 2016 revenue guidance to $6.62bn at the high end of our range, " he said.
"That puts us on pace to reach a $7bn run rate later this year, and our goal is to be the fastest to reach $10bn in annual revenue."
Salesforce's rising revenues can be attributed to the growing appetite for cloud services across a variety of industries and sectors.
The amount Salesforce spends on building awareness of its services and closing deals makes it clear that the company is trying to capitalise on companies' desires to move to the cloud.
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