Salesforce Surges on Strong Q3 Results and Raised Guidance
Salesforce shares surged 11% in premarket trading after the company's quarterly results exceeded Wall Street forecasts. The enterprise software provider reported adjusted earnings per share of $5.90 and revenue of $11.35 billion, both surpassing analyst estimates.
The growth was driven by increasing demand for Salesforce's artificial intelligence offerings, particularly in its AI-focused products such as Agentforce and Data 360. These products saw a combined annual recurring revenue approaching $3.9 billion, representing over 210% year-over-year growth.
CEO Marc Benioff stated that the company 'just delivered one of our best quarters ever, outperforming across every key metric.' The strong performance led Salesforce to raise its full-year fiscal 2027 revenue guidance to between $46.1 billion and $46.4 billion, with a new midpoint of $46.25 billion.
Additionally, the company forecasted third-quarter revenue of $11.42 billion to $11.5 billion, with an adjusted EPS range of $3.42-$3.44. Salesforce's collaboration with AI startup Anthropic was also highlighted, aiming to jointly develop a system that will link Anthropic's plug-ins with Salesforce's portfolio of business tools.