Salesforce.com Up Nearly 9% On Earnings Beat

Salesforce.com, inc. CRM shares are rocketing higher today, trading at $147.54, up $11.73‎ or 8.64%‎ after the company reported better than expected earnings last night after the bell. The company also raised full year guidance. The company said it expects to earn 29 to 30 cents per share on revenues of $526-$528 million, well above what Wall Street was expecting for the July quarter. Wall Street estimates for the July quarter are 27 cents per share on revenues of $505.2 million. Chief Executive Marc Benioff said that customers are buying more software. “What I see in the enterprise buying environment is the recession is behind these customers,” he said during a conference call with analysts today. “We see a big buying environment out there.” Excluding items, salesforce.com reported earnings of 28 cents per share, on revenues of $504.4 million. Wall Street had been expecting earnings of 27 cents per share on $482.3 million.