Salesforce (NYSE: CRM), the global leader in CRM, today announced results for its fiscal second quarter ended July 31, 2017.

“We had a phenomenal quarter of growth, reaching a huge milestone for the company, becoming the first enterprise cloud software company to break the $10 billion revenue run rate,” said Marc Benioff, chairman and CEO, Salesforce. “We did this faster than any other enterprise software company in history. Our continued momentum as the leader in CRM, the fastest-growing segment of our industry, combined with more than $15 billion in billed and unbilled deferred revenue, puts us well on the path to $20 billion and beyond.”

Salesforce delivered the following results for its fiscal second quarter 2018:

Revenue: Total Q2 revenue was $2.56 billion, an increase of 26% year-over-year, and 25% in constant currency. Subscription and support revenues were $2.37 billion, an increase of 26% year-over-year. Professional services and other revenues were $193 million, an increase of 28% year-over-year.

Earnings per Share: Q2 GAAP diluted earnings per share was $0.02, and non-GAAP diluted earnings per share was $0.33.

Cash: Cash generated from operations for the second quarter was $331 million, an increase of 32% year-over-year. Total cash, cash equivalents and marketable securities finished the quarter at $3.50 billion.

Deferred Revenue: Deferred revenue on the balance sheet as of July 31, 2017 was $4.82 billion, an increase of 26% year-over-year, and 25% in constant currency. Unbilled deferred revenue, representing business that is contracted but unbilled and off balance sheet, ended the second quarter at approximately $10.4 billion, up 30% year-over-year. This includes approximately $625 million related to unbilled deferred revenue from Demandware.

As of August 22, 2017, the company is initiating revenue, earnings per share, and deferred revenue guidance for its third quarter of fiscal year 2018. In addition, the company is raising its full fiscal year 2018 revenue and earnings per share guidance, and maintaining its operating cash flow guidance, previously provided on May 18, 2017.

Q3 FY18 Guidance: Revenue is projected to be $2.64 billion to $2.65 billion, an increase of 23% to 24% year-over-year.

GAAP diluted earnings per share is projected to be $0.04 to $0.05, while non-GAAP diluted earnings per share is projected to be $0.36 to $0.37.

On balance sheet deferred revenue growth is projected to be 18% to 19% year-over-year.

Full Year FY18 Guidance: Revenue is projected to be $10.35 billion to $10.40 billion, an increase of 23% to 24% year-over-year.

GAAP diluted earnings per share is projected to be $0.07 to $0.09, while non-GAAP diluted earnings per share is projected to be $1.29 to $1.31.

Operating cash flow growth is projected to be 20% to 21% year-over-year.

The following is a per share reconciliation of GAAP diluted earnings per share to non-GAAP diluted earnings per share guidance for the next quarter and the full year: