Salesforce Posts Record Quarter Amid AI Boom

Salesforce reported an outstanding first quarter, marked by record revenue of $11.13 billion, exceeding consensus estimates. The company's adjusted earnings per share also significantly beat projections, coming in at $3.88. Total revenue saw a healthy 13% year-over-year increase.

Demonstrating robust financial health, Salesforce ended the quarter with $8.94 billion in cash and cash equivalents. The company also announced a significant $25 billion accelerated share repurchase program, with final settlement anticipated in the third quarter of fiscal 2027. Management highlighted Agentic AI as a key growth opportunity for customers and the company.

While the company provided optimistic future revenue projections for the second quarter and fiscal 2027, Salesforce stock saw a decline in after-hours trading following the earnings announcement. The shares were trading down in extended trading.