Cloud-based software firm Salesforce shared its fiscal second-quarter earnings report, which came above analysts’ expectations. The company also announced the departure of its Chief Financial Officer, Amy Weaver.
Salesforce reported $9.33 billion in revenue for Q2, marking an 8% increase compared to the same period last year, while analysts estimated $9.23 billion. Its adjusted earnings per share came at $2.56 versus the expected $2.36 per share, while net income saw year-over-year growth from $1.27 billion to $1.43 billion.
After the strong quarter, Salesforce upped its forecast for the current quarter and full-year outlook. It now expects to land at $2.42 to $2.44 per share on $9.31 billion to $9.36 billion in revenue in Q3, while aiming for $10.03 to $10.11 per share and $37.7 billion to $38 billion in revenue for fiscal 2025. The analysts estimate $9.89 in adjusted EPS on revenue of $37.84 billion.
Speaking with analysts on a conference call, Salesforce CEO Marc Benioff said Weaver will leave her role as CFO after the company finds her replacement. Weaver, who joined the company in 2013 and became CFO in 2021, will remain on board as an advisor.
Salesforce stock surged in the aftermath of strong earnings, opening with a 4.5% jump on Thursday compared to the previous close price of $258.90 per share. The company’s shares are now around 1% up year-to-date.