Overnight Salesforce (CRM US) surged to new highs after the AI boom fuelled strong earnings growth. The company’s revenue grew 8% YoY during the fiscal quarter while net income was up 25% to $US1.5bn. The company now expects 4th quarter sales to come in around $US10bn, ahead of expectations. The market was especially encouraged by Salesforce’s AI agent product called Agentforce, as the company closed more than 200 related deals during the quarter.
- Earnings per share (EPS) of $2.41 just missed the $2.44 expected, though revenue of $US9.44bn was strong.
- We like this result and like the stock as it breaks out to new highs.
MM is bullish towards Salesforce
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