Salesforce cheers 'a powerful pipeline of future revenue' as its stock ticks higher

By Christine Ji and Emily Bary

Salesforce says its earnings reflect AI momentum. Will the results be enough to flip bearish sentiment for an extended stretch?

Salesforce shares were rising after earnings.

Salesforce boosted its full-year forecast on Wednesday while calling out momentum for its artificial-intelligence offerings. The earnings report is set to offer a lift to the software stock, which has struggled this year in the face of investor doubts about its future in the AI era.

Revenue for the quarter came out to $10.3 billion, up 9% year over year and 8% in constant currency. Subscription revenue made up $9.7 billion, up 10% year over year and 9% in constant currency. Both figures essentially matched the FactSet consensus.

Current remaining performance obligations (cRPO) grew 11% from a year earlier, to reach $29.4 billion and topping the FactSet consensus of $29 billion. The metric points to "a powerful pipeline of future revenue," CEO Marc Benioff said in a release.

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Shares of Salesforce (CRM) gained 2% in Wednesday's extended session. They have lost 29% over the course of 2025 through Wednesday's close.

The company called out momentum for Agentforce, its artificial-intelligence offering, which CFO Robin Washington said puts the company on a path to achieve its goal of $60 billion in organic annual revenue by fiscal 2030.

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The cRPO results and 3.2 trillion tokens processed by Agentforce "really reinforce the curve that we're starting to see of adoption," Mike Spencer, head of investor relations at Salesforce, told MarketWatch. Customers are "utilizing their initial commitments and coming back and purchasing more."

Salesforce now expects full-year revenue to be between $41.45 billion and $41.55 billion. The company had previously guided for between $41.1 billion and $41.3 billion in total revenue.

The new forecast bakes in roughly 80 basis points of contribution from Informatica, a data-management company that Salesforce recently acquired.

Prior to the earnings report, Jefferies analyst Brent Thill warned that Salesforce's stock could continue to languish in the near term over AI concerns. In a note last week, Thill wrote that revenue acceleration may not pick up until the second half of calendar 2026.

Read: 5 bubble-resistant tech stocks to guard your portfolio from an AI crash

-Christine Ji -Emily Bary

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12-03-25 2018ET