Salesforce beats sales and earnings expectations in Q2, raises forecast, announces new AI tools.

From CNBC: 2024-08-28 20:20:24

Salesforce beat sales and earnings expectations in the second quarter, causing shares to jump over 4%. Revenue increased 8% year over year to $9.33 billion, with adjusted earnings per share at $2.56. The company raised its operating margin forecast to 33.7%, showing a commitment to profitable growth. Quarterly operating margin was at 19.1%. Salesforce announced new AI tools for salespeople, which may help drive revenue growth. COO Brian Millham believes the Americas region can return to double-digit growth through new technology and multi-cloud deals. CFO Amy Weaver is stepping down, and the company increased share buybacks. Salesforce maintained its full-year revenue outlook of $37.7 billion to $38 billion with adjusted margin forecast of 32.8%. Earnings per share is now expected to be between $10.03 and $10.11. Third-quarter revenue is forecasted to be $9.31 billion to $9.36 billion, with adjusted earnings per share range of $2.42 to $2.44.



Read more at CNBC:: Salesforce gets back on track — here’s what the software giant needs to deliver next