HomeTechnologySalesforce Stocks Surges After Beating Revenue Outlook

Salesforce Stocks Surges After Beating Revenue Outlook

Salesforce stocks jumped by 5% during after-hours trading on Wednesday after releasing its quarterly results. The CRM software company beat Wall Street estimates for its revenue, margins, and earnings per share. “We are very thirsty to make sure that Salesforce is the No. 1 AI CRM, and we have done a lot organically to do that in the last six months,” CEO Marc Benioff told analysts during the company’s earnings call.

Revenue came in at $8.60 billion, beating estimates of $8.53 billion, while adjusted earnings per share of $2.12 outperformed expectations of $1.90 per share. The software company’s operating margin for the second quarter was 31.6%, exceeding an estimated 28.2%.

Following its strong quarterly performance, Salesforce lifted its 2024 revenue outlook. Previously in the range of $34.5 billion to $34.7 billion, Salesforce’s new estimate is $34.7 billion to $34.8 billion.

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