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Salesforce Reports Q2 Revenues Up 34% To $732M

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Salesforce.com reported its second quarter earnings today, showing revenue growth at $732 million brought in, up 34% compared to last year. Earnings per share were 42 cents. The company beat analysts revenue estimates of $728 million.

Salesforce raised its outlook for the third quarter, and is expecting third quarter revenues between $773 million and $777 million, an increase of 32% to 33% year-over-year. The company also expects third quarter earnings of between 31 or 32 cents per share.

Deferred revenues, which are calculated base on initial set up charges for a customer, were $1.34 billion, growing 43% year-over-year but up less than 1% from last quarter.

This revenue growth did not stop the company’s stock price from falling 5% in after hours trading, due to Salesforce’s mixed business outlook for the year. Salesforce has beaten analysts’ estimates in the last four quarters, a fact that again did not affect the stock price in after-hours trading.

Salesforce has been on an acquisition tear in the past quarter, buying co-browsing startup GoInstant for $76 million, ThinkFuse, and Buddy Media for a whopping $689 million. In terms of product, Chatter and Do.com both got upgrades, and the company recently debuted communities, a private social network for business customers.