Salesforce Stock Rises on Strong Earnings and Dividend Announcement
Salesforce's stock price surged near its recent highs after investors reacted positively to the company's latest fiscal second-quarter results and the announcement of a quarterly dividend. The customer relationship management specialist reported revenue of $11.35 billion for the quarter, surpassing analysts' expectations by approximately 10.8 percent year-over-year.
The adjusted earnings per share reached $5.90, significantly beating the consensus estimate of $3.27. Salesforce also raised its full-fiscal 2027 guidance, projecting adjusted earnings between $16.67 and $16.71 per share. The company lifted its revenue outlook to a range of $46.1 billion to $46.4 billion for the fiscal year.
The introduction of a quarterly dividend, with an initial payout of $0.44 per share, is expected to provide shareholders with an annualized return of $1.76 per share. The market view on Salesforce remains cautiously optimistic, with a consensus analyst rating of Moderate Buy and an average price target near $266.50.