Salesforce Soars on Strong Earnings and AI Growth

Salesforce shares surged roughly 14% after hours following the company's quarterly earnings report. The company raised its annual revenue and profit forecasts, citing strong growth in its AI-powered tools.

Quarterly revenue climbed 11% to $11.35 billion, narrowly beating expectations. Adjusted earnings more than doubled to $5.90 per share, with strategic investments and buybacks contributing to the increase. Excluding investment gains, adjusted earnings were closer to $3.37 per share.

Salesforce's partnership with Anthropic has expanded through 'Claudeforce', combining Claude models with Salesforce data, governance, and business workflows. The first product includes over 36 prebuilt sales tools, leveraging AI to automate tasks rather than simply demonstrating its capabilities.

The company lifted its fiscal 2027 revenue outlook to $46.1 billion-$46.4 billion from $45.9 billion-$46.2 billion, with adjusted earnings guidance jumping to $16.67-$16.71 per share. Salesforce's stock had entered earnings down roughly 20% this year due to concerns over AI's impact on its competitive position.