Salesforce Stock Sees Strongest Weekly Gain Since August 2020 on Q2 Earnings

Salesforce Inc., the software giant behind the popular customer relationship management platform, has recorded its strongest weekly gain since August 2020. The company's stock surged 24% over the past week, outperforming the S&P 500's top-performing stocks.

The rally was triggered by Salesforce's impressive second-quarter earnings report, which saw adjusted earnings per share (EPS) of $5.90 crush expectations at $3.27, representing an 80% beat. Revenue for the quarter reached $11.35 billion, a year-over-year growth of 11%. The company also lifted its fiscal-year 2027 adjusted EPS guidance to $16.67-$16.71, significantly above the consensus estimate of $14.16.

The quarterly earnings report was accompanied by several key announcements, including a deepened partnership with Anthropic, which will see Claude become the default AI model across Slack and core Salesforce products. As part of this deal, Salesforce booked a significant gain on its Anthropic stake, totaling $2.6 billion. The news sent shares soaring 22.6% on Thursday alone.