Salesforce beats earnings estimates, president and CFO Amy Weaver to step down

Group 1 - Salesforce shares increased approximately 1.5% in extended trading following strong fiscal second-quarter results that exceeded estimates and raised the full-year profit outlook [1] - The company reported adjusted earnings per share of $2.56, surpassing the expected $2.36, and revenue of $9.33 billion, exceeding the anticipated $9.23 billion [1] - Revenue grew 8% year over year, with net income rising to $1.43 billion, or $1.47 per share, compared to $1.27 billion, or $1.28 per share, in the same quarter last year [1] Group 2 - For the fiscal third quarter, Salesforce projected adjusted earnings per share between $2.42 and $2.44, with revenue expected to be between $9.31 billion and $9.36 billion [2] - The company forecasted adjusted fiscal 2025 earnings of $10.03 to $10.11 per share, with revenue between $37.7 billion and $38 billion, compared to last quarter's forecast of $9.86 to $9.94 per share [2] - Salesforce announced plans to test an Einstein Copilot for Merchants, which can create product pages and promotions with minimal human input [2] Group 3 - Activist investors Starboard and ValueAct have increased their positions in Salesforce, purchasing shares before the company announced an earlier-than-expected widening of its adjusted operating margin [3] - Excluding after-hours trading, Salesforce shares have declined 2% in 2024, while the S&P 500 index has risen by 17% during the same period [3] - Executives will discuss the quarterly results with analysts in a conference call scheduled for 5 p.m. PT [3]