Salesforce Soars 7% After Earnings Beat (CRM)

is soaring after announcing impressive second quarter results and full-year estimates that are in-line with Wall Street. The popular cloud computing company reported a Q2 EPS of $0.09. This was 18 percent lower than the EPS reported during the year-ago period, but it was still higher than Wall Street's estimate of $0.07. Revenue came in at $957 million versus $938.81 million as sales were up 31 percent year-over-year. Salesforce also announced that it expects to report a third-quarter EPS of $0.08 to 0.09 versus the Street estimate of $0.08. The company anticipates a full-year 2014 EPS of $0.32 to 0.34 versus $0.32. "Salesforce.com continues to be the fastest growing software company of its size with year-over-year growth of more than 30% in revenue, deferred revenue, and operating cash flow," Marc Benioff, Chairman and CEO of Salesforce, said in a

. "I'm delighted to announce that just four years after delivering our first $1 billion revenue year, we are now poised to deliver our first $1 billion revenue quarter in the third quarter of fiscal 2014." Leading up to this report, some analysts approached Salesforce's outlook with caution. In July, Wedbush

from $42 to $40, citing long-term issues.

This week Bernstein Research

due to the company's anticipated slow growth. Other analysts have been more optimistic. In June, Global Equities Research analyst Trip Chowdhry sent out a research note praising Salesforce for

, a veteran

exec. Shortly after the hire, Salesforce and Oracle

a "comprehensive nine-year partnership encompassing all three tiers of cloud computing: Applications, Platform and Infrastructure." A few weeks later in July, Salesforce

of ExactTarget, a successful cloud marketing firm. The acquisition brought several big clients -- including

,

and

-- to Salesforce. Disclosure: