Salesforce (NYSE: CRM), the enterprise software group behind the Salesforce customer relationship management platform, saw its shares jump 22.58% after a blowout second-quarter earnings beat eased fears that AI agent tools would erode demand for its core subscription business.
The stock closed yesterday’s session at $252.05, up from $205.62 the previous close, its best single-day gain since 2020. The rally took shares to within range of their 52-week high of $267.75, having traded as low as $146.32 over the past year.
Salesforce reported second-quarter revenue of $11.35bn, up 10.8% year-on-year, alongside adjusted earnings per share of $5.90 against a consensus estimate of $3.27, an 80.4% beat. Management raised full-year adjusted earnings guidance by 18.5% to a $16.69 midpoint and lifted full-year revenue guidance to $46.25bn.
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The results directly countered investor concern that Salesforce’s Agentforce, its AI agent product, would cannibalise CRM subscriptions. Instead, Agentforce annual recurring revenue reached $1.5bn, while Slackbot, the company’s workplace-messaging AI tool, became the fastest-adopted AI product in its history, surpassing 1 million active users within five months — evidence, management argued, that AI adoption is adding revenue rather than replacing it.
The rally rippled across enterprise software peers, with Okta, CrowdStrike and ServiceNow (NYSE: NOW) all rising sharply the same session, reflecting a broader repricing of the risk that AI would displace software subscriptions rather than expand them.
Salesforce also announced a deepened partnership with Anthropic, dubbed Claudeforce, integrating the Claude AI model directly into Slack and Salesforce workflows, extending the company’s push to embed AI agents across its platform.
