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Salesforce: Deferred Revenue Debacle; Bookings in Danger?

in News on August 21, 2008 at 1:21 pm PT

Following a beat-and-raise quarter last night for online software vendor Salesforce’s (CRM), the rewards are not what you might expect, with the shares down $11.60, or 17.8 percent, at $53.73. The company’s forecast for a profit of 34 cents to 35 cents for the current quarter, excluding its cost to acquire privately held Instranet, was unimpressive to the Street.