Salesforce Raises Revenue Forecasts Amid AI Partnership Expansion
Salesforce has raised its annual revenue forecasts and expanded its AI partnership with Anthropic. 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.
The expansion in the companies' partnership is marked by a new plug-in combining Salesforce's capabilities with Anthropic's Claude AI models, dubbed 'Claudeforce'. This initiative comes as Salesforce grapples with negative sentiment on software stocks due to worries about AI disruption.
Salesforce has been gaining traction with AI-powered tools and autonomous agents that can automate sales, service, and marketing tasks. The company recorded a $2.53-per-share gain on an adjusted basis from its strategic investments in the second quarter, which partly helped the company's adjusted earnings more than double to $5.90 per share.
The EPS was also boosted by a reduction in outstanding shares due to share buybacks and strong operational performance. Salesforce has been gaining traction with AI-powered tools and autonomous agents that can automate sales, service, and marketing tasks.