Salesforce stock surges as AI momentum drives revenue growth

Salesforce just posted the kind of quarter that makes Wall Street forget every skeptical AI take from the last two years. The company reported fiscal Q2 2027 revenue of $11.35 billion, an 11% year-over-year increase that edged past the consensus estimate of $11.32 billion. Shares jumped roughly 11% in after-hours trading.

The real jaw-dropper was on the bottom line. Adjusted earnings per share came in at $5.90, a 103% increase compared to the prior year and well ahead of analyst expectations.

Agentforce is the engine room

The star of the earnings call was Agentforce, Salesforce’s AI-powered automation platform. Its annual recurring revenue surpassed $1.5 billion, representing a 240% year-over-year increase. When combined with Data 360, total ARR approached $3.9 billion, up 210% from the previous year.

Usage metrics reinforced the adoption story. Salesforce delivered 3.2 billion total Agentic Work Units during the quarter, a 97% increase from the prior quarter alone.

Current remaining performance obligations grew 14% year-on-year to $33.5 billion.

Anthropic bet pays off handsomely

Buried in the financials was a $2.6 billion unrealized gain from Salesforce’s strategic investment in Anthropic, the AI startup behind the Claude family of models. Anthropic’s valuation reportedly skyrocketed to $965 billion earlier in the year.

Raised guidance signals sustained confidence

Off the back of these results, Salesforce lifted its full-year fiscal 2027 revenue guidance by $200 million. The company now projects revenues between $46.1 billion and $46.4 billion, implying roughly 11% to 12% growth for the year.

For the upcoming third quarter, management guided revenue in the range of $11.42 billion to $11.50 billion.