Salesforce.com, Inc. (NYSE:CRM) released its Q4 F2018 earnings results after closing bell tonight. On a non-GAAP basis, Salesforce earnings per share amounted to 35 cents, which beat the consensus by a penny. Revenue grew 24% year over year to $2.85 billion, just edging out the consensus at $2.81 billion.

Management had guided for Salesforce earnings to come in around 32 cents to 33 cents per share and for revenue to be between $2.8 billion and $2.81 billion. In the same quarter a year ago, the company reported non-GAAP earnings of 28 cents per share on $2.29 billion in revenue.

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On a GAAP basis, Salesforce earnings amounted to 9 cents per share, compared to the GAAP loss of 7 cents per share reported in the year-ago quarter. At the end of January, the company had $7.09 billion in deferred revenue sitting on its balance sheet, which marks a 28% increase from a year ago. Unbilled deferred revenue was up 48% at $13.3 billion. Subscription and support revenues increased 26% year over year to $2.66 billion, while professional services and other revenues grew 7% to $196 million.

“We had an outstanding quarter of growth that propelled Salesforce over the $10 billion revenue milestone for the year,” Chairman and Chief Executive Marc Benioff said in a statement on the Salesforce earnings release. “No other enterprise software company has achieved this scale faster than Salesforce. Our relentless focus on customer success continues to strengthen our position as the global leader in CRM.”

Salesforce also initiated guidance for Q1 of F2019 and boosted its full-year revenue outlook for fiscal 2019. The company expects Q1 revenue to be between $2.925 billion and $2.935 billion, representing a 23% year-over-year increase. Management expects Salesforce earnings to be between 9 cents and 10 cents per share on a GAAP basis and between 43 cents and 44 cents per share on a non-GAAP basis. Earnings consensus for Q1 was at around 37 cents per share before the release.

For fiscal 2019, they expect revenue to be between $12.6 billion and $12.65 billion, compared to the consensus of about $12.55 billion. They also project GAAP earnings of 61 cents to 63 cents per share and non-GAAP earnings of $2.02 to $2.04 per share.

Following the earnings release, Salesforce stock see-sawed in after-hours trades, initially rising but then later falling as low as $115.50 per share.