On Wednesday, Salesforce Inc (NYSE: CRM) surpassed Wall Street estimates with its quarterly results, with its shares rising 6% during extended trading in response. The software giant reported growth across all five of its product categories as it continues its growth path fueled by AI. Together with Amazon.com Inc (NASDAQ: AMZN), and Alphabet (NASDAQ: GOOG), Salesforce provided a wave of optimism regarding recovery in technology spending for the remaining half of the year.
Fiscal Second Quarter Highlights
For its fiscal second quarter that ended on July 31st, Salesforce generated $8.60 billion in revenue that grew 11% YoY, topping Refinitiv’s consensus estimate of $8.53 billion. Salesforce earned a net income of $1.27 billion, or $1.28 per share, improving significantly from last year’s comparable quarter when it earned $68 million, or 7 cents per share. When adjusted, EPS ...