NetSuite Shows Strong Q3 Growth Numbers And Takes a Shot at SAP – NetSuite announced third quarter earnings results yesterday. Total revenue for the third quarter of 2013 was $106.9 million, representing a 34% increase over the same period in the prior year. On a GAAP basis, net loss for the third quarter of 2013 was $16.8 million, or $(0.23) per share, as compared to a net loss of $8.0 million, or $(0.11) per share, in the third quarter of 2012. Non-GAAP net income for the third quarter of 2013 was $6.9 million, or $0.09 per share, as compared to non-GAAP net income of $5.7 million, or $0.08 per share, in the third quarter of 2012.
Shares of NetSuite initially surged in after-hour trading yesterday. However, NetSuite shares are down nearly 5% today as well as this week. Zach Nelson, CEO of NetSuite decided to take a play out of Larry Ellison’s playbook and go after SAP. “This week has been a tale of two companies as NetSuite’s Q3 revenue set a new record, while SAP effectively exited the business of providing software for mid-sized companies as they scale back their Business ByDesign product, which they once hyped as a NetSuite killer,” said Nelson. “These two divergent results show that as mission-critical software moves to the Cloud, it is far safer for customers to turn to committed leaders like NetSuite rather than bet on the PowerPoint presentations of last-generation providers like SAP, Microsoft and Sage.”
Microsoft Has Strong Q3 Earnings, Cloud and Dynamics CRM Doing Well – Microsoft reported better-than-expected quarterly earnings yesterday sending shares of Microsoft stock up 6% today. Microsoft earned $5.24 billion, or 62 cents per share and reported revenue of $18.5 billion, a 16% increase. Of particular interest to many analysts was Microsoft’s positive news on its cloud computing revenue which more than doubled in the quarter. Microsoft also cited strong demand for its Dynamics CRM Online solution.
That’s the Best for today. Please chime in if you feel I missed something or you like/dislike my takes (I’m ok either way).
Bern Baumgartner
ERP Ready, Inc.
http://www.erpreadyinc.com
@erpreadyinc
ERP Ready Blog 