盘后一度跳涨8%！AI应用利好，Salesforce料本季营收劲增超10%，上调全年指引

Core Viewpoint - Salesforce reported a 9% year-over-year revenue growth for Q3, slightly below expectations, but EPS surged by 35%, exceeding forecasts. The AI and data cloud platforms maintained triple-digit annual recurring revenue growth [1][14][25]. Financial Data - Revenue: Q3 revenue reached $10.26 billion, a year-over-year increase of 8.6%, slightly below analyst expectations of $10.28 billion. The previous quarter saw a 9.8% growth [5][20]. - EPS: Non-GAAP diluted EPS for Q3 was $3.25, up nearly 34.9% year-over-year, exceeding the guidance range and analyst expectations [5][20]. - Operating Margin: GAAP operating margin for Q3 was 21.3%, an increase of 1.3 percentage points year-over-year [5][20]. Business Metrics - Subscription and Support: Q3 revenue from subscription and support was $9.73 billion, growing over 9.5% year-over-year [6][20]. - Current Remaining Performance Obligations (CRPO): CRPO stood at $29.4 billion, up 11% year-over-year, slightly above analyst expectations [6][21]. Performance Guidance - Revenue Guidance: For Q4, Salesforce expects revenue between $11.13 billion and $11.23 billion, indicating a year-over-year growth of 11.3% to 12.3% [9][24]. - EPS Guidance: Q4 non-GAAP diluted EPS is projected to be between $3.02 and $3.04, with full-year EPS guidance raised to $11.75 to $11.77 [9][24]. - CRPO Growth: Q4 CRPO is expected to grow approximately 15% year-over-year, exceeding analyst expectations [10][26]. AI and Market Dynamics - AI Performance: Salesforce's AI platforms, particularly Agentforce and Data 360, showed strong performance with annual recurring revenue (ARR) nearing $1.4 billion, reflecting a 114% year-over-year increase [10][25]. - Market Sentiment: Despite strong AI product performance, concerns about AI-related risks and market valuation have led to a significant decline in Salesforce's stock price, which has dropped 28.6% year-to-date [12][17]. - Valuation Concerns: Salesforce's valuation has fallen to its lowest since its IPO, with a forward P/E ratio of about 19, significantly below its historical average [27][28].