Salesforce Blasts SaaS Apocalypse Fears as Revenue Surges
Salesforce's stock surged on Thursday as the company reported quarterly results that put to rest fears of a 'SaaSpocalypse', a phenomenon where AI-powered software is expected to render traditional SaaS business models obsolete.
CEO Marc Benioff dismissed these concerns, stating 'This nonsense of this SaaSpocalypse, I think it is time for it to stop.' He pointed out that despite dire predictions over the past two quarters, none have come true for Salesforce.
The company's financial results support Benioff's statements, with revenue rising 11% year-over-year to $11.3 billion in its fiscal 2027 second quarter, which ended on July 31. Net income climbed to $3.5 billion, or $4.29 per share.
Salesforce is also teaming up with Anthropic to launch Claudeforce, a new partnership that combines the reasoning of Anthropic's Claude models with Salesforce's data security and business workflows.