From CNBC: 2024-12-03 19:54:37

Salesforce reported Q3 revenue of $9.44 billion, beating estimates, with adjusted EPS at $2.41, missing expectations. Operating margin exceeded estimates on a GAAP basis. Shares surged over 10% in after-hours trading. The launch of Agentforce, an AI platform, has investors hopeful for future revenue growth. Salesforce plans to hire 1,400 account executives to support demand for Agentforce. Revenue guidance for Q4 is $9.9 billion to $10.1 billion. Adjusted EPS guidance is $2.57 to $2.62. Salesforce expects cRPO to reach $30 billion, with no material contribution from Agentforce. Operating margin and cash flow guidance were raised for the full year. Salesforce is focusing on multi-cloud deals and has recorded a notable profitability milestone with a 20% GAAP operating margin. The company bought back $1.2 billion worth of stock and plans to continue repurchasing shares to offset dilution. Salesforce’s fundamentals remain strong, with a positive outlook for future growth driven by Agentforce and other AI solutions.



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