Salesforce Shatters Estimates with Blowout Q2 Results

Salesforce shares surged by 11.4% after hours on Wednesday following the release of its second-quarter results, which handily beat Wall Street estimates.

The enterprise software company posted revenue of $11.3 billion for the quarter, aligning with analyst projections and representing a year-over-year increase of 11%. Adjusted earnings per share came in at $5.90, more than double the expected $3.27 and up 103% from the same period last year.

Salesforce's current remaining performance obligation, a metric used to gauge contracted revenue, rose 14% year-over-year in constant currency to $33.5 billion.

In addition to its quarterly results, Salesforce also raised its full-year guidance, predicting revenue of between $46.1 and $46.4 billion, surpassing analysts' estimates of $46.11 billion. The company lifted its adjusted EPS outlook to a range of $16.67-$16.71, significantly above the consensus estimate of $14.14.