Salesforce stock jumps 11% on AI growth and Anthropic investment gain
Salesforce said AI demand lifted annual recurring revenue toward $4 billion and boosted current remaining performance obligations 14%, according to the company.
- Salesforce shares surged 12% following fiscal second-quarter results that topped Wall Street expectations, with revenue increasing 11% to $11.35 billion and adjusted EPS reaching $5.90.
- Bolstered by a $2.6 billion gain on Anthropic, net income jumped 87% to $3.53 billion, exceeding analyst projections and driving confidence in the company's strategic investments.
- Salesforce announced Claudeforce, a new Claude plugin, alongside a $1.6 billion contract with the Department of Veterans Affairs and plans to acquire customer service startup Fin for $3.6 billion.
- Annualized revenue from Agentforce products topped $1.5 billion, reflecting 240% year-over-year growth, as the company updated its full-year revenue forecast to $46.1 billion–$46.4 billion.
- Current remaining performance obligation reached $33.5 billion, providing sustained revenue visibility as the company's AI-focused strategy continues gaining enterprise traction and validating its recent product pivot.
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Global software company Salesforce posted earnings that exceeded market expectations in the second quarter of this year. This was driven by increased sales of its AI-based product portfolio and a surge in valuation gains from its equity investment in AI startup Antropic. As its future earnings guidance also surpassed Wall Street expectations, Salesforce's stock price jumped 13% in after-hours trading.
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