Salesforce Stock Surges 40% After Record $27B Buyback

Salesforce spent a record $27.1 billion on buybacks in its first quarter, and it's paying off big time.

The company continued to repurchase shares throughout Q2, which saw its stock skyrocket 40% after the release of its quarterly report.

The strong earnings beat was largely driven by an increase in the value of Salesforce's stake in Anthropic, but also reflected improved operational efficiency and sales growth.

This aggressive share buyback program has been a key part of Salesforce's strategy to boost earnings per share and manage capital effectively.