Salesforce shares rise following strong earnings and AI growth

Salesforce reported strong quarterly results that exceeded market expectations, driven largely by growth in artificial intelligence technologies. The company's revenue rose 11 percent to 11.35 billion dollars, while subscription and support revenues increased 12 percent to 10.8 billion dollars. Adjusted earnings per share reached 5.90 dollars, significantly surpassing the anticipated 3.27 dollars.

A primary driver of this growth is Agentforce, which saw revenues exceed 1.5 billion dollars with a growth rate of over 240 percent. The company's strategic partnership and investment in Anthropic also contributed significantly, including a 2.6 billion dollar gain from its Anthropic stake that boosted net results.

Following the earnings report, analysts from Citigroup and Jefferies raised their price targets for Salesforce, citing the company's successful monetization of AI and its strategic positioning. The stock saw substantial gains, reflecting investor confidence in the company's ability to integrate AI into customer data and workflows through platforms like Agentforce and Data 360.