Salesforce Boosts Its Outlook on AI Momentum, Injecting Some Enthusiasm Into Its Stock

Core Insights - Salesforce reported a quarterly profit exceeding analysts' expectations, driven by momentum from its AI offerings [1] - The company raised its full-year outlook, indicating positive growth prospects [1] Financial Performance - Adjusted earnings per share for fiscal 2026 third quarter were $3.25, surpassing the $2.86 forecast by analysts [1] - Revenue increased by 9% year-over-year to $10.26 billion, aligning with estimates from Visible Alpha [1] AI and Growth Drivers - CEO Marc Benioff highlighted that Salesforce's Agentforce, which assists companies in creating customized AI agents, significantly contributed to growth [1] - Annual recurring revenue from Agentforce and Data 360 offerings more than doubled year-over-year to $1.4 billion [1] Future Outlook - Salesforce now anticipates full-year adjusted earnings between $11.75 and $11.77, with revenue projected at $41.45 to $41.55 billion [1] - This is an increase from the previous forecast of earnings between $11.33 and $11.37, and revenue of $41.1 billion to $41.3 billion [1] Market Reaction - Following the earnings report, Salesforce shares rose by 3% in extended trading [1] - The stronger outlook may help revive interest in Salesforce's stock, which had declined nearly 30% for 2025 prior to the results [1]