Salesforce shares rose 12% in extended trading on August 26, after the US cloud software company reported stronger-than-expected quarterly results and gave guidance above Wall Street estimates.

For the fiscal second quarter ended July 31, Salesforce’s revenue increased 11% from a year earlier.

Net income rose to US$3.53 billion, or US$4.29 per share, from US$1.89 billion, or US$1.96 per share, a year earlier.

Salesforce said a US$2.6 billion gain on strategic investments related to its stake in Anthropic helped profit.

For the fiscal third quarter, Salesforce forecast revenue of US$11.42 billion to US$11.50 billion and adjusted earnings of US$3.42 to US$3.44 per share, above estimates from LSEG, the London Stock Exchange Group.

The company also raised its full-year outlook to revenue of US$46.1 billion to US$46.4 billion and adjusted earnings of US$16.67 to US$16.71 per share.

🔗 Source: CNBC

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