Salesforce Exceeds Analyst Estimates with $63 Billion Revenue Outlook

Salesforce has given investors a long-term answer to its AI growth challenge. The CRM software giant expects revenue to reach $63 billion by fiscal 2030, exceeding analyst estimates as it pushes deeper into AI and integrates Informatica.

The company's chief operating and financial officer, Robin Washington, announced the outlook during Salesforce's annual conference. This news is a significant boost for investors who were worried about the software giant's ability to thrive in an era of developing AI products.

Salesforce has faced pressure from competition from artificial intelligence tools, but its partnership with leading AI startup Anthropic PBC has helped ease investor concerns. Analysts have been impressed by conversations with customers and partners at the conference, which were 'notably more constructive than a year ago,' according to Citigroup Inc.

The stock has gained 67% since hitting a low on June 22, but remains down 5.4% for the year. The shares were little changed in extended trading after closing at $250.54 in New York.