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Salesforce.com FY Q2 Edges Estimates; Shares Gain

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Salesforce.com shares are trading higher after hours Thursday on better-than-expected financial results for its fiscal Q1 ended April 30.

For the quarter, the cloud-based software provider reported revenue of $695 million, up 38% from a year ago, and ahead of the Street consensus at $678.21 million. Adjusted EPS of 37 cents a share topped the Street at 34 cents.

For FY Q2, Salesforce sees revenue of $724 million to $728 million and adjusted profits of 38-39 cents a share; Street consensus had been $713.8 million and 38 cents.

For the full year, the company now sees revenue of $2.97 billion to $3 billion, with adjusted profits of $1.60 to $1.63 a share; consensus has been $2.95 billion and $1.61.

"Salesforce.com continues to be the fastest growing software company of its size," CEO Marc Benioff said in a statement. "Last year we became the first enterprise cloud computing company to achieve $2 billion in revenue, and we're now poised to deliver the first ever $3 billion year in fiscal 2013."

CRM in late trading is up $8.25, or 6.2%, to $142.05.