CRM Takes A Beating
Posted on August 21, 2008
Filed Under Uncategorized |
Ouch. It is interesting that analysts are now criticizing the company for focusing too much on enterprise deployments when just a year ago that is exactly what the company said they were going to do.
Meanwhile, sales and marketing expenses continue to take a huge bite out of the company’s income statement.
The San Francisco-based company, which sells subscriptions to business software hosted on the Internet, said net income for the second quarter ended in July rose to $10 million, or 8 cents a share, from $3.74 million, or 3 cents a share in the same period a year earlier. Meanwhile revenue rose 49% to $263.1 million.
[From Salesforce.com falls on disappointing outlook - MarketWatch]
Despite having their gains for the YTD blown out today, you would still have done better by going long on CRM than either SAP or ORCL:
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My name is Jeff Nolan and I write Venture Chronicles. These are my thoughts on technology, innovation, management, public policy and pretty much anything else that I find interesting.
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