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Salesforce Stock Surges Amid AI Fears Eased
Salesforce stock surged on Thursday after the cloud-based customer relationship management platform's quarterly results helped to calm investors' fears of a 'SaaSpocalypse.'
CEO Marc Benioff dismissed these concerns, stating that they have been wrong for two quarters.
Salesforce's revenue rose 11% year over year to $11.3 billion in its fiscal 2027 second quarter, which ended on July 31.
The company's Agentforce offering, which helps customers create AI agents to perform business tasks, is growing particularly fast with ARR increasing over 240% to $1.5 billion.