Here’s how the company did relative to LSEG consensus:<\/p>\n
Earnings per share: $5.90 adjustedRevenue: $11.35 billion vs. $11.32 billion expected<\/p>\n
Salesforce’s revenue increased 11% from a year earlier in the fiscal second quarter, which ended on July 31, according to a statement<\/a>. Net income of $3.53 billion, or $4.29 a share, jumped 87% from $1.89 billion, or $1.96 a share a year ago. <\/p>\n The company pointed to a $2.6 billion gain on strategic investments from a stake in artificial intelligence startup Anthropic. In May Anthropic said it had raised equity funding that valued the company at $965 billion<\/a>. Salesforce’s free cash flow spiked 81% to $1.10 billion, well above StreetAccount’s $643.2 million consensus. In recent weeks Alphabet and Microsoft have also flagged gains<\/a> after investing in Anthropic. <\/p>\n For the fiscal third quarter, Salesforce said revenue should come in between $11.42 billion to $11.50 billion. Analysts polled by LSEG had anticipated $11.41 billion.<\/p>\n Salesforce now sees $46.1 billion to $46.4 billion in revenue for the full year, implying 11% growth at the middle of the range. LSEG’s consensus was $46.11 billion. In May<\/a>, guidance called for $45.9 billion to $46.2 billion in revenue.<\/p>\n Also on Wednesday, Salesforce announced Claudeforce<\/a>, a plugin for Anthropic’s Claude that can compose emails on behalf of salespeople, arm them with information and update records through chat.<\/p>\n During the quarter, Salesforce announced a $1.6 billion contract<\/a> from the U.S. Department of Veterans Affairs and revealed plans to acquire customer service startup Fin for $3.6 billion<\/a>.<\/p>\n Annualized revenue from Agentforce AI products topped $1.5 billion, up 240% year over year. The growth rate a quarter earlier was over 200%.<\/p>\n Salesforce said it had $33.5 billion in current remaining performance obligation, a measure of revenue that is expected to be recognized in the next year. Analysts polled by StreetAccount had expected $33.22 billion.<\/p>\n As of Wednesday’s close, Salesforce shares were down 22% year to date, while the S&P 500 index has gained 12% in the same period. Investors have been going back and forth<\/a> on how big of a threat generative artificial intelligence models are to staid software companies.<\/p>\n Executives will discuss the results with analysts on a conference call starting at at 5 p.m. ET.<\/p>\n WATCH: Options Action: Software earnings disappoint<\/a><\/p>\n
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