Salesforce Raises Revenue Forecast on Strong AI Adoption
Salesforce has raised its annual revenue forecast due to the growing adoption of its AI-powered autonomous agents. The company's shares rose by 12% in extended trading after it announced an expanded partnership with Anthropic, called 'Claudeforce', which will integrate Claude AI models with Salesforce's enterprise platform.
The integration aims to support AI agents across workplace applications and automate sales, service, and marketing tasks. This area is seen as a major growth driver for the future by Salesforce. The company has been gaining traction with its AI-powered tools, such as Headless 360 and Slackbot, which provide new ways for users to access traditional Salesforce applications and data.
CEO Marc Benioff stated that the demand for their AI and data products is 'incredible' with annual recurring revenue approaching $4 billion. The company now expects fiscal 2027 revenue between $46.1 billion and $46.4 billion, up from its prior outlook range of $45.9 billion to $46.2 billion.
Salesforce also raised its annual adjusted earnings per share forecast to be between $16.67 and $16.71, reflecting a reduction in share count. The company's revenue for the second quarter ended July 31 grew 11% to $11.35 billion, exceeding analysts' expectations of $11.32 billion.