Salesforce surged 12.8% in after-hours trading on Wednesday after reporting fiscal second-quarter results that exceeded analyst expectations and included a $2.6 billion gain from its stake in AI startup Anthropic.
The San Francisco-based company posted revenue of $11.35 billion for the quarter ended July 31, up 11% year-over-year and surpassing the $11.32 billion consensus estimate compiled by LSEG. Net income climbed to $3.53 billion, or $4.29 per share, a 87% increase from the same period last year.
Salesforce also raised its full-year adjusted earnings per share guidance to a range of $16.67 to $16.71, compared with its prior forecast of $14.06 to $14.12. Revenue guidance was increased to $46.1 billion to $46.4 billion, with the midpoint exceeding the LSEG consensus of $46.11 billion.
The company highlighted its strategic investments, including gains from its stake in Anthropic, as a key driver of the improved outlook. Salesforce and Anthropic expanded their partnership, unveiling a new plugin called Claudeforce that integrates Anthropic’s Claude chatbot with Salesforce’s platform. The plugin, containing 37 pre-built sales skills, enables users to compose emails, update records, and perform other tasks directly within the chatbot interface.
Analysts at Citizens maintained a Market Outperform rating with a $315 price target, citing positive industry checks that showed improvement in the fiscal second quarter. Truist Securities and Oppenheimer also maintained bullish ratings ahead of the report. During regular trading hours, the S&P 500 rose 0.1%, the Dow Jones gained 0.3%, and the Nasdaq edged up 0.2%.
Salesforce CEO Marc Benioff emphasized the company’s focus on delivering an interface that "thinks, reasons, and acts," reflecting the integration of AI capabilities into its core offerings.
