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For five years, Salesforce ( CRM ) has relied on the combination of co-founder and CEO Marc Benioff , and Chief Operating Officer Keith Block, who was recently promoted to co-CEO.

They've built the business into a $10 billion enterprise, and it appears they're well on their way to $13 billion in fiscal 2019 revenue - as Benioff had predicted - based off the company's second-quarter earnings released after markets closed on Wednesday.

As freshly minted co-CEOs, they've delivered another winning quarter.

The San Francisco-based company reported adjusted earnings of 71 cents per share on revenue of $3.28 billion, up 27% from the same quarter a year ago. Each beat consensus estimates of analysts polled by FactSet , who expected adjusted earnings of 47 cents per share on revenue of $3.23 billion. A year ago, Salesforce posted adjusted earnings of 33 cents per share.

Salesforce did, however, offer guidance for third-quarter adjusted earnings that, at 49 cents to 50 cents, came in below analyst estimates of 53 cents. That sent the company's stock down 1% to $152.91.

Salesforce shares have soared 62% the past 12 months, easily surpassing rivals Microsoft  ( MSFT ), SAP ( SAP ), and Oracle ( ORCL ).

Salesforce's recent $6.5 billion acquisition of MuleSoft has figured heavily in results. Joel Fishbein , BTIG Managing Director, software and cloud technology, tells Barron's that MuleSoft, an integration-software maker, has generated fresh revenue, though it diluted Salesforce's earnings.

Salesforce raised its fiscal 2019 revenue guidance to $13.125 billion to $13.175 billion.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of NASDAQ, Inc.

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