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Salesforce reports improved quarterly earnings

Salesforce.com Inc., a U.S. customer relationship management products and cloud services provider, reported net income of $67.6 million for the fourth quarter ending Jan. 31, compared to a loss of $51.4 million recorded in the same quarter last year.

The company's EPS for the fourth quarter improved to 9 cents, up from a loss per share of 7 cents recorded in the prior-year quarter.

Total fourth-quarter revenues came in at $2.85 billion, a gain of 24.3% from $2.29 billion recorded in the prior-year period. Subscription and support revenues grew by 25.8%, to $2.66 billion from the comparable period's $2.11 billion.

Total operating expenses rose to $2.04 billion in the fourth quarter, up from $1.69 billion the previous year.

Net income for the full year totaled $127.5 million, compared to $179.6 million in fiscal year 2017.