Salesforce beats on earnings and revenue but full-year guidance comes in light
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- Salesforce posted adjusted earnings per share of $3.88 and revenue of $11.13 billion for Q2 FY2024, beating the $3.12 EPS and $11.05 billion consensus.
- Salesforce forecast FY2024 adjusted EPS of $14.06–$14.12 and revenue of $45.9–$46.2 billion, slightly below analysts’ $13.22 EPS and $46.12 billion revenue expectations.
- Agentforce subscription and support revenue reached $6.91 billion, up almost 9% YoY, and annualized revenue hit $1.2 billion, a 205% YoY increase.
- Informatica contributed $428 million to Salesforce’s subscription revenue after its $9.6 billion acquisition in November.
- Salesforce reported a remaining performance obligation of $67.9 billion, just shy of the $68.61 billion analyst consensus.
Why it matters: Investors watch Salesforce’s AI‑driven Agentforce surge as a growth engine, but the weaker FY guidance drags the stock, which is already 33% YTD, while the S&P 500 continues to rise.
