Salesforce shares rose more than 12% in after-hours trading on Wednesday after the cloud software company reported quarterly results and guidance that came in ahead of Wall Street expectations. The company posted second-quarter revenue of $11.35 billion, slightly above market forecasts, and net profit of $3.53 billion, up 87% from a year earlier. Salesforce also said it booked a $2.6 billion strategic gain tied to its investment in artificial intelligence startup Anthropic. For the third quarter, the company forecast adjusted earnings per share of $3.42 to $3.44 on revenue of $11.42 billion to $11.5 billion, compared with analysts’ prior estimates of $3.38 per share and $11.41 billion in revenue. Salesforce also updated its full-year outlook, projecting earnings per share of $16.67 to $16.71 and revenue of $46.1 billion to $46.4 billion. Based on the midpoint of that range, the company said growth would be 11%.
Salesforce (CRM) rose more than 12% in after-hours U.S. trading on Wednesday after the cloud software company released results and guidance that topped Wall Street expectations, according to BlockBeats.
For the second quarter, Salesforce reported revenue of $11.35 billion, slightly above market forecasts. Net profit reached $3.53 billion, up 87% from the same period last year.
The company said it recorded a $2.6 billion strategic gain from its investment in artificial intelligence startup Anthropic.
For the third quarter, Salesforce expects adjusted earnings per share of $3.42 to $3.44 and revenue of $11.42 billion to $11.5 billion. Analysts had previously expected third-quarter adjusted earnings per share of $3.38 and revenue of $11.41 billion.
Salesforce now expects full-year earnings per share of $16.67 to $16.71 and revenue of $46.1 billion to $46.4 billion, implying 11% growth based on the midpoint of the range.
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