Salesforce Shares Soar as AI Boosts Earnings

Salesforce shares have surged over 70% since June, driven by its recovery from a gloomy first half of the year.

The company's latest earnings report showed an 11% year-over-year revenue growth, with contracted future revenue accelerating and customer churn falling to near-record lows.

This counters fears that AI might tempt companies to abandon expensive software platforms, instead showing that Salesforce's customers are staying put and spending more.

The company's progress in AI has been a key factor, particularly its flagship suite of AI tools, Agentforce, which has seen recurring revenue more than triple over the past year.