Earnings: Revenue Strengthens for Fifth Straight Quarter by Double Digits

S&P 500 (NYSE:SPY) component inc.’s (NYSE:CRM) loss widened in the third quarter, as the company’s results were dragged down by higher costs. is a cloud computing company, which provides customer relationship management products to businesses. It offers a technology platform for Internet-based computing, storage, and connectivity solutions for customers and developers.

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Results: Loss widened to $220.3 million ($1.55 per diluted share) from $3.8 million (loss of 3 cents per share) in the same quarter a year earlier.

Revenue: Rose 34.9% to $788.4 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: inc. reported adjusted net income of 33 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 10 cents per share. It beat the average revenue estimate of $678.1 million.

Quoting Management: “ is the first enterprise cloud computing company to exceed a $3 billion annual revenue run rate, with outstanding third quarter revenue growth at 35% in dollars and 37% in constant currency,” said Marc Benioff, Chairman and CEO, “Given the strong customer response to our next generation social and mobile cloud technologies, I’m delighted to announce that we expect to surpass a $4 billion annual revenue run rate during our fiscal year 2014.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 36.3%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 38.3% from the year earlier quarter.

The company has beaten estiamtes for two quarters in a row. In the second quarter, it topped expectations with net income of 5 cents versus a mean estimate of net income of 4 cents per share.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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