Salesforce.com Inc (CRM.N) allayed concerns about a slowing pace of growth after it reported quarterly deferred revenue that came above its estimate on Thursday.
The company’s deferred revenue rose 26 percent to $5.04 billion in the first quarter ended April 30.
In February, Salesforce had warned of a steeper drop in first-quarter deferred revenue, blaming seasonality as customers typically make purchasing decisions toward the end of the year.
