Salesforce Surges 14% on Earnings Beat and Anthropic Partnership

Salesforce's fiscal Q2 2027 earnings report and surprise partnership with Anthropic have sent shockwaves through the enterprise software sector. The company's stock soared 14% to $234.90, ending a months-long slump that saw it drop 22% for the year.

The move is significant because Salesforce was considered one of the 'broken names' in enterprise software, with some bears arguing that generative AI models could disintermediate legacy CRM platforms, dragging the multiple toward a value-trap zone. However, today's earnings report and partnership have put this disruption thesis on defense.

Salesforce reported revenue of $11.35 billion, up 11% from a year earlier, with current remaining performance obligation of $33.5 billion, up 14%. The company also raised its full-year FY27 revenue guidance by $200 million to a range of $46.1 billion to $46.4 billion.

The AI figures did the heavy lifting for Salesforce, with combined Agentforce and Data Cloud annual recurring revenue reaching nearly $3.9 billion, up more than 210% year over year. Customers completed 3.2 billion Agentic Work Units in the second quarter, up 97% from the prior quarter.