Salesforce revenue jumps 23 percent

Reuters News
Posted: May 20, 2015 4:17 PM

(Reuters) - Cloud software company Inc <CRM.N>, the subject of takeover speculation for the past few weeks, reported a 23 percent jump in quarterly revenue, helped by an increase in demand for its web-based sales and marketing software.

The company reported net income of $4.1 million, or 1 cent per share, in the first quarter ended April 30, compared with a loss of $96.9 million, or 16 cents per share, a year earlier.

Revenue rose to $1.51 billion from $1.23 billion.

Bloomberg reported last month that Salesforce had been approached by a potential buyer.

Microsoft Corp <MSFT.O>, Oracle Corp <ORCL.N>, IBM <IBM.N> and SAP SE <SAPG.DE> have been touted as potential acquirers. SAP's CEO, however, said on Tuesday that Salesforce was richly valued and was unlikely to be bought by any player in the industry.

(Reporting by Devika Krishna Kumar and Subrat Patnaik in Bengaluru; Editing by Joyjeet Das)