Salesforce, Inc. released its fiscal third-quarter earnings report, showing revenue growth of 8% year over year and exceeding analyst expectations. The company’s net income was $1.5 billion, up 25% from last year.
For the fourth quarter, Salesforce raised its sales guidance to between $9.90 billion and $10.10 billion, surpassing analysts’ projections of $10.05 billion. Earnings per share are expected to be between $2.57 and $2.62, slightly below the projected $2.65.
CEO Marc Benioff highlighted Salesforce’s advancements in artificial intelligence, particularly its AI-powered chatbots dubbed Agentforce. The company is positioning itself as a leader in AI agent technology, with potential applications in customer interactions.
Benioff also expressed his frustration that hospitals couldn’t use AI agents for follow-up appointments after he ruptured his Achilles tendon on a recent trip. He used this anecdote to emphasize the need for employees to focus on strategic work.
Notably, activist investor Starboard Value increased its stake in Salesforce by 40% in the second quarter, citing the company’s progress toward improving profit margins.
The company has also announced that Amy Weaver will step down as CFO and remain in a role until a successor is appointed.
Source: https://www.cnbc.com/2024/12/03/salesforce-crm-q3-earnings-report-2025.html