Salesforce stock jumps 11% on AI growth and Anthropic investment gain
Salesforce said AI demand lifted annual recurring revenue toward $4 billion and boosted current remaining performance obligations 14%, according to the company.
- Salesforce shares surged 12% following fiscal second-quarter results that topped Wall Street expectations, with revenue increasing 11% to $11.35 billion and adjusted EPS reaching $5.90.
- Bolstered by a $2.6 billion gain on Anthropic, net income jumped 87% to $3.53 billion, exceeding analyst projections and driving confidence in the company's strategic investments.
- Salesforce announced Claudeforce, a new Claude plugin, alongside a $1.6 billion contract with the Department of Veterans Affairs and plans to acquire customer service startup Fin for $3.6 billion.
- Annualized revenue from Agentforce products topped $1.5 billion, reflecting 240% year-over-year growth, as the company updated its full-year revenue forecast to $46.1 billion–$46.4 billion.
- Current remaining performance obligation reached $33.5 billion, providing sustained revenue visibility as the company's AI-focused strategy continues gaining enterprise traction and validating its recent product pivot.
29 Articles
29 Articles
Global software company Salesforce posted earnings that exceeded market expectations in the second quarter of this year. This was driven by increased sales of its AI-based product portfolio and a surge in valuation gains from its equity investment in AI startup Antropic. As its future earnings guidance also surpassed Wall Street expectations, Salesforce's stock price jumped 13% in after-hours trading.
Salesforce's shares skyrocketed by 14% in post-market closing operations, after the cloud software provider presented results and issued forecasts that exceeded Wall Street's projections, CNBC revealed. According to one statement, Salesforce's revenues increased 11% year-on-year in the second fiscal quarter, which ended on July 31. The net profit of $3.530 million, or $4.29 per share, skyrocketed 87% over the $1.890 million, or $1.96 per share, …
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